# OPEC+ Sees 2021 Oil Deficit, 2022 Surplus as Supply Revived - Bloomberg

> Bloomberg reports OPEC and its allies expect oil markets to keep tightening in 2021 even as output is revived, then move into surplus in 2022. The data was to be presented to the group's Joint Technical Committee.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45472-opec-sees-2021-oil-deficit-2022-surplus-as-supply-revived-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected tightness this year supports prices in the near term, while a projected 2022 surplus limits longer-term upside, shaping hedging decisions for energy-linked feed costs.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-02-01 | [OPEC Cuts Oil Production as Coalition Begins New Supply Pact - Bloomberg](https://feedsoft.ai/events/31566-opec-cuts-oil-production-as-coalition-begins-new-supply-pact-bloomberg.md) | -2.6% | +1.9% |
| BRENT | 2021-08-31 | [OPEC+ sees tighter oil market until May 2022 \| Reuters](https://feedsoft.ai/events/45471-opec-sees-tighter-oil-market-until-may-2022-reuters.md) | -0.4% | +8.7% |
| BRENT | 2023-02-02 | [OPEC Output Slides as Group Sticks With Deal to Balance Market - Bloomberg](https://feedsoft.ai/events/37217-opec-output-slides-as-group-sticks-with-deal-to-balance-market-bloomberg.md) | +2.9% | +2.2% |
| BRENT | 2022-06-27 | [OPEC+ lowers 2022 market surplus forecast to 1 million bps – Reuters — Octa](https://feedsoft.ai/events/41113-opec-lowers-2022-market-surplus-forecast-to-1-million-bps-reuters-octa.md) | +0.1% | -8.9% |
| BRENT | 2025-05-14 | [OPEC expects slower 2025 oil supply growth from rivals after price drop](https://feedsoft.ai/events/24854-opec-expects-slower-2025-oil-supply-growth-from-rivals-after-price-drop.md) | -0.9% | +5.6% |
| WTI | 2024-01-03 | [OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg](https://feedsoft.ai/events/32039-opec-s-crude-oil-output-steady-in-december-before-new-supply-cuts-bloomberg.md) | +2.6% | +7.9% |
| WTI | 2017-08-10 | [OPEC Boosts Oil-Demand Outlook While Its Production Rises - Bloomberg](https://feedsoft.ai/events/69362-opec-boosts-oil-demand-outlook-while-its-production-rises-bloomberg.md) | -5.6% | -1.0% |
| WTI | 2025-12-11 | [OPEC data indicate close oil supply-demand balance in 2026, no glut \| Reuters](https://feedsoft.ai/events/21425-opec-data-indicate-close-oil-supply-demand-balance-in-2026-no-glut-reuters.md) | -4.4% | +0.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-08-31/opec-sees-2021-supply-deficit-2022-surplus-as-output-revived

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