# OPEC Plus Maintains Oil Production Plans - The New York Times

> OPEC Plus decided to continue its gradual program of adding oil to the market by raising production by 400,000 barrels a day in January. The group made the same increase it has made in recent months. The decision was taken at a meeting where the main choice was whether to pause the plan.

- Date: 2021-12-02 · published 2021-12-02T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43499-opec-plus-maintains-oil-production-plans-the-new-york-times
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A continuation of planned output growth adds crude supply at a time of weak prices, which is bearish for energy. Lower crude tends to weigh on diesel and biofuel costs that influence demand for vegetable oils and feed ingredients.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +35.6% | +50.4% |
| WTI | 2021-04-27 | [OPEC+ maintains production plan \| Wood Mackenzie](https://feedsoft.ai/events/47511-opec-maintains-production-plan-wood-mackenzie.md) | +4.0% | +6.6% |
| WTI | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -7.0% | -2.7% |
| WTI | 2022-12-04 | [OPEC Plus opts against cutting production as oil prices fall - The Washington Post](https://feedsoft.ai/events/38138-opec-plus-opts-against-cutting-production-as-oil-prices-fall-the-washington-post.md) | -11.1% | -3.8% |
| WTI | 2025-06-01 | [OPEC+ to Increase Oil Production—Again](https://feedsoft.ai/events/24856-opec-to-increase-oil-production-again.md) | +6.2% | +7.6% |
| BRENT | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +31.0% | +62.6% |
| BRENT | 2021-04-27 | [OPEC+ maintains production plan \| Wood Mackenzie](https://feedsoft.ai/events/47511-opec-maintains-production-plan-wood-mackenzie.md) | +3.2% | +4.5% |
| BRENT | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -3.5% | -5.4% |

## Sources

- nytimes.com: https://www.nytimes.com/2021/12/02/business/opec-plus-meeting-oil.html

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