# Oil Latest: OPEC+ Panel Recommends Sticking to Plan for Gradual Supply Hikes - Bloomberg

> An OPEC+ panel recommended keeping its schedule of gradual monthly output increases. WTI crude rose to its highest level since 2014 after the recommendation.

- Date: 2021-10-04 · published 2021-10-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/44444-oil-latest-opec-panel-recommends-sticking-to-plan-for-gradual-supply-hikes
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A steady, gradual supply increase leaves the oil market tight, supporting crude prices. Higher oil prices raise input and transport costs across the feed chain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-04 | [OPEC+ sticks to plan for gradual oil output hike, price roars higher](https://feedsoft.ai/events/44442-opec-sticks-to-plan-for-gradual-oil-output-hike-price-roars-higher.md) | +4.6% | +9.9% |
| WTI | 2021-10-04 | [OPEC+ sticks to gradual monthly supply hikes \| Oil & Gas Journal](https://feedsoft.ai/events/44445-opec-sticks-to-gradual-monthly-supply-hikes-oil-and-gas-journal.md) | +4.6% | +9.9% |
| WTI | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.1% | -5.8% |
| WTI | 2022-02-02 | [OPEC+ Agrees on Another Gradual Oil-Production Hike for March - Bloomberg](https://feedsoft.ai/events/42627-opec-agrees-on-another-gradual-oil-production-hike-for-march-bloomberg.md) | +1.3% | +25.5% |
| WTI | 2024-09-05 | [OPEC+ Has Deal to Pause Planned Oil Hike for 2 Months: Delegate - Bloomberg](https://feedsoft.ai/events/28240-opec-has-deal-to-pause-planned-oil-hike-for-2-months-delegate-bloomberg.md) | -2.7% | +1.0% |
| BRENT | 2021-10-04 | [OPEC+ sticks to plan for gradual oil output hike, price roars higher](https://feedsoft.ai/events/44442-opec-sticks-to-plan-for-gradual-oil-output-hike-price-roars-higher.md) | +3.7% | +5.5% |
| BRENT | 2021-10-04 | [OPEC+ sticks to gradual monthly supply hikes \| Oil & Gas Journal](https://feedsoft.ai/events/44445-opec-sticks-to-gradual-monthly-supply-hikes-oil-and-gas-journal.md) | +3.7% | +5.5% |
| BRENT | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.9% | -3.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-10-04/opec-panel-recommends-sticking-to-plan-for-gradual-supply-hikes

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