# OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter

> OPEC+ agreed on January 4, 2022 to restore the 400,000 barrel-a-day increase scheduled for February. Analysts had predicted a smaller first-quarter surplus than previously expected, and Brent was near $80 a barrel.

- Date: 2022-01-04 · published 2022-01-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The planned supply increase is a bearish factor for crude, but a tighter-than-expected outlook supports prices. The net effect on energy costs for feed producers is modest.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-08-03 | [OPEC agrees to produce slightly more oil as recession fears loom \| CNN Business](https://feedsoft.ai/events/39949-opec-agrees-to-produce-slightly-more-oil-as-recession-fears-loom-cnn-business.md) | -3.4% | -4.0% |
| BRENT | 2021-08-27 | [OPEC+ faces mixed market signals after US pressure to increase oil supplies \| S&P Global](https://feedsoft.ai/events/45474-opec-faces-mixed-market-signals-after-us-pressure-to-increase-oil-supplies-s.md) | +3.6% | +8.6% |
| BRENT | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -6.5% | -6.3% |
| BRENT | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.1% | +4.6% |
| BRENT | 2021-06-30 | [Oil prices could skyrocket if OPEC+ fails in pledge to deliver more supply](https://feedsoft.ai/events/46780-oil-prices-could-skyrocket-if-opec-fails-in-pledge-to-deliver-more-supply.md) | +0.1% | -0.5% |
| WTI | 2022-08-03 | [OPEC agrees to produce slightly more oil as recession fears loom \| CNN Business](https://feedsoft.ai/events/39949-opec-agrees-to-produce-slightly-more-oil-as-recession-fears-loom-cnn-business.md) | -4.1% | -4.5% |
| WTI | 2021-08-27 | [OPEC+ faces mixed market signals after US pressure to increase oil supplies \| S&P Global](https://feedsoft.ai/events/45474-opec-faces-mixed-market-signals-after-us-pressure-to-increase-oil-supplies-s.md) | +3.9% | +9.9% |
| WTI | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -5.5% | -7.1% |

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/2022/01/04/opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.