# OPEC considers lowering production to account for oil reserve releases

> OPEC and its allies may revisit their plan to revive oil supply if the four largest consuming countries go ahead with a coordinated release of strategic petroleum reserves. India had become the latest major consumer to consider tapping its stockpiles.

- Date: 2021-11-22 · published 2021-11-22T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43987-opec-considers-lowering-production-to-account-for-oil-reserve-releases
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

If OPEC+ trims output to offset the stockpile releases, the net supply effect is limited and prices could hold up, though the release itself adds near-term barrels that could weigh on crude.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-11-30 | [Opec set for annual meeting to discuss next phase of oil production policy \| The National](https://feedsoft.ai/events/50063-opec-set-for-annual-meeting-to-discuss-next-phase-of-oil-production-policy-the.md) | +1.5% | +4.3% |
| WTI | 2024-11-28 | [OPEC+ postpones meeting to decide oil production strategy to Dec. 5: Sources](https://feedsoft.ai/events/27303-opec-postpones-meeting-to-decide-oil-production-strategy-to-dec-5-sources.md) | -0.6% | +3.1% |
| WTI | 2025-11-01 | [Oil Rises on Reports US Plans to Strike OPEC Producer Venezuela](https://feedsoft.ai/events/22561-oil-rises-on-reports-us-plans-to-strike-opec-producer-venezuela.md) | -2.0% | -3.4% |
| WTI | 2025-11-30 | [OPEC+ ministers reaffirm earlier decisions on oil production in 2026 -  Business & Economy - TASS](https://feedsoft.ai/events/21873-opec-ministers-reaffirm-earlier-decisions-on-oil-production-in-2026-business.md) | +2.7% | -1.1% |
| WTI | 2019-09-16 | [OPEC says too early for any action on oil after Saudi attacks](https://feedsoft.ai/events/57001-opec-says-too-early-for-any-action-on-oil-after-saudi-attacks.md) | +5.8% | -0.1% |
| BRENT | 2020-11-30 | [Opec set for annual meeting to discuss next phase of oil production policy \| The National](https://feedsoft.ai/events/50063-opec-set-for-annual-meeting-to-discuss-next-phase-of-oil-production-policy-the.md) | +3.5% | +7.0% |
| BRENT | 2024-11-28 | [OPEC+ postpones meeting to decide oil production strategy to Dec. 5: Sources](https://feedsoft.ai/events/27303-opec-postpones-meeting-to-decide-oil-production-strategy-to-dec-5-sources.md) | +0.2% | +0.0% |
| BRENT | 2025-11-01 | [Oil Rises on Reports US Plans to Strike OPEC Producer Venezuela](https://feedsoft.ai/events/22561-oil-rises-on-reports-us-plans-to-strike-opec-producer-venezuela.md) | -2.4% | -2.5% |

## Sources

- worldoil.com: https://worldoil.com/news/2021/11/22/opec-considers-lowering-production-to-account-for-oil-reserve-releases

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