# OPEC+ agrees oil output hike from February as omicron Covid cases soar

> OPEC and its non-OPEC allies, known as OPEC+, decided to raise output by 400,000 barrels per day from February. The move had been broadly expected given U.S. pressure to boost supply and no major new Covid restrictions.

- Date: 2022-01-04 · published 2022-01-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43061-opec-agrees-oil-output-hike-from-february-as-omicron-covid-cases-soar
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The expected supply increase is bearish for crude, though demand concerns from Omicron were cited. Crude costs feed into diesel, freight and biofuel feedstock prices for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-01-04 | [OPEC+ agrees oil output increase from February \| Reuters](https://feedsoft.ai/events/43057-opec-agrees-oil-output-increase-from-february-reuters.md) | +3.3% | +16.7% |
| BRENT | 2021-12-01 | [OPEC+ weighs output policy amid oil price slide, Omicron fears](https://feedsoft.ai/events/6303-opec-weighs-output-policy-amid-oil-price-slide-omicron-fears.md) | +6.8% | +9.0% |
| BRENT | 2025-10-05 | [OPEC+ opts for modest oil output hike as glut fears mount \| Reuters](https://feedsoft.ai/events/22302-opec-opts-for-modest-oil-output-hike-as-glut-fears-mount-reuters.md) | -2.7% | -0.1% |
| BRENT | 2025-09-07 | [OPEC+ agrees further oil output boost from October to regain market share \| Reuters](https://feedsoft.ai/events/22768-opec-agrees-further-oil-output-boost-from-october-to-regain-market-share-reuters.md) | +3.4% | +0.2% |
| BRENT | 2020-12-01 | [Oil slides as OPEC+ delays decision on output cuts](https://feedsoft.ai/events/49561-oil-slides-as-opec-delays-decision-on-output-cuts.md) | +3.2% | +7.5% |
| WTI | 2022-01-04 | [OPEC+ agrees oil output increase from February \| Reuters](https://feedsoft.ai/events/43057-opec-agrees-oil-output-increase-from-february-reuters.md) | +2.8% | +16.0% |
| WTI | 2021-12-01 | [OPEC+ weighs output policy amid oil price slide, Omicron fears](https://feedsoft.ai/events/6303-opec-weighs-output-policy-amid-oil-price-slide-omicron-fears.md) | +8.8% | +15.8% |
| WTI | 2025-10-05 | [OPEC+ opts for modest oil output hike as glut fears mount \| Reuters](https://feedsoft.ai/events/22302-opec-opts-for-modest-oil-output-hike-as-glut-fears-mount-reuters.md) | -3.1% | +0.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/01/04/opec-meeting-to-decide-on-oil-supply-as-omicron-covid-cases-soar.html

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