# OPEC to proceed with plans to increase January oil output

> OPEC and its allies agreed to add 400,000 barrels a day of crude to global markets in January while leaving open the option to adjust the plan at short notice. Oil fell 2.5% to $63.96 a barrel in New York that morning, with crude already in a bear market due to the new coronavirus strain. The group also faces political pressure from the US over supply and inflation.

- Date: 2021-12-02 · published 2021-12-02T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43503-opec-to-proceed-with-plans-to-increase-january-oil-output
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The short-notice adjustment clause makes future supply less certain, which adds volatility to crude prices. Lower or more volatile crude affects energy-linked costs in feed and oilseed markets.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-03 | [OPEC+ to proceed with planned April oil output hike](https://feedsoft.ai/events/25481-opec-to-proceed-with-planned-april-oil-output-hike.md) | -3.9% | -0.4% |
| WTI | 2025-11-01 | [Oil settles lower as OPEC plans to increase oil output](https://feedsoft.ai/events/22562-oil-settles-lower-as-opec-plans-to-increase-oil-output.md) | -2.0% | -3.4% |
| WTI | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -15.1% | -14.5% |
| WTI | 2024-08-22 | [OPEC⁺ faces moment of truth on planned output increase](https://feedsoft.ai/events/28688-opec-faces-moment-of-truth-on-planned-output-increase.md) | +3.7% | +0.1% |
| WTI | 2021-06-01 | [OPEC+ agrees to continue planned crude output increases](https://feedsoft.ai/events/46499-opec-agrees-to-continue-planned-crude-output-increases.md) | +4.4% | +10.0% |
| BRENT | 2025-03-03 | [OPEC+ to proceed with planned April oil output hike](https://feedsoft.ai/events/25481-opec-to-proceed-with-planned-april-oil-output-hike.md) | -3.4% | +0.3% |
| BRENT | 2025-11-01 | [Oil settles lower as OPEC plans to increase oil output](https://feedsoft.ai/events/22562-oil-settles-lower-as-opec-plans-to-increase-oil-output.md) | -2.4% | -2.5% |
| BRENT | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -14.2% | -15.6% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2021/12/2/opec-to-proceed-with-plans-to-increase-january-oil-output/

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