# Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply | The National

> OPEC+ agreed to raise output by 400,000 bpd in December and reconfirmed a plan to return 2 million bpd to markets by year end. Countries that overproduced were allowed to submit compensatory cut plans by the end of December.

- Date: 2021-11-04 · published 2021-11-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The modest, pre-set increases give the market little extra supply, so crude prices stay firm and energy-linked feed costs remain high.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +0.5% | -17.6% |
| WTI | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +2.8% | +16.0% |
| WTI | 2022-09-05 | [Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds \| The National](https://feedsoft.ai/events/39518-opec-agrees-to-cut-october-crude-supply-by-100-000-bpd-amid-demand-headwinds.md) | +1.0% | -3.7% |
| WTI | 2022-10-05 | [OPEC announces big cut in oil production despite US pressure \| CNN Business](https://feedsoft.ai/events/39058-opec-announces-big-cut-in-oil-production-despite-us-pressure-cnn-business.md) | +3.3% | +1.9% |
| WTI | 2016-11-30 | [Saudis to cut oil output by 0.5 million bpd in OPEC deal: source](https://feedsoft.ai/events/73785-saudis-to-cut-oil-output-by-0-5-million-bpd-in-opec-deal-source.md) | +12.5% | +19.3% |
| BRENT | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +1.5% | -15.1% |
| BRENT | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +3.3% | +16.7% |
| BRENT | 2022-09-05 | [Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds \| The National](https://feedsoft.ai/events/39518-opec-agrees-to-cut-october-crude-supply-by-100-000-bpd-amid-demand-headwinds.md) | -0.9% | -5.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2021/11/04/opec-to-increase-output-by-400000-bpd-despite-us-pressure-for-more-oil-supply/

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