# OPEC+ maintains its production policy for November – EnergyScan

> OPEC+ kept its planned 400,000 bpd supply increase for November, and Brent crude traded near $81.6/b. Analysts expect supply to seasonally outpace demand in Q1 2022, which does not justify a larger hike. Nigeria and Angola face difficulty reaching their output targets.

- Date: 2021-10-05 · published 2021-10-05T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/44448-opec-maintains-its-production-policy-for-november-energyscan
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected seasonal oversupply in early 2022 could ease prices later, but near-term supply shortfalls from producers like Nigeria and Angola keep the market firm. Energy costs remain relevant for feed buyers.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-12-04 | [OPEC+ agrees to maintain oil production targets](https://feedsoft.ai/events/38140-opec-agrees-to-maintain-oil-production-targets.md) | -11.4% | -5.6% |
| BRENT | 2021-02-03 | [OPEC+ maintains oil policy amid price rally](https://feedsoft.ai/events/48551-opec-maintains-oil-policy-amid-price-rally.md) | +5.9% | +9.4% |
| BRENT | 2019-07-03 | [OPEC, non-OPEC members decide on extending production cuts up to March 2020, ETEnergyworld](https://feedsoft.ai/events/58010-opec-non-opec-members-decide-on-extending-production-cuts-up-to-march-2020.md) | +2.7% | +1.7% |
| BRENT | 2022-09-05 | [Oil: OPEC+ surprises energy markets with a small production cut](https://feedsoft.ai/events/39517-oil-opec-surprises-energy-markets-with-a-small-production-cut.md) | -0.9% | -5.0% |
| BRENT | 2026-10-04 | [OPEC+ Keeps November Oil Production Unchanged As Crude Prices Hold September Gains](https://feedsoft.ai/events/17215-opec-keeps-november-oil-production-unchanged-as-crude-prices-hold-september.md) | -0.9% | +2.2% |
| WTI | 2026-10-05 | [OPEC 7 Reveal Production Plan for November](https://feedsoft.ai/events/17058-opec-7-reveal-production-plan-for-november.md) | +0.8% | +8.4% |
| WTI | 2018-03-09 | [OPEC+ seven agree to maintain November production levels](https://feedsoft.ai/events/65936-opec-seven-agree-to-maintain-november-production-levels.md) | +1.7% | +3.2% |
| WTI | 2022-01-04 | [OPEC+ sticks to existing production policy for February](https://feedsoft.ai/events/43064-opec-sticks-to-existing-production-policy-for-february.md) | +2.8% | +16.0% |

## Sources

- energyscan.engie.com: https://energyscan.engie.com/daily-news/oil/opec-maintains-its-production-policy-for-november/

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