# Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place | OilPrice.com

> Kuwait's oil minister said OPEC+ must reconsider the 400,000 bpd increase because markets are slowing and COVID-19 is in a fourth wave in some areas. The comments followed a US call for larger output increases to ease rising fuel prices.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45476-oil-could-rise-further-as-opec-suggests-keeping-output-cuts-in-place-oilprice
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible halt to OPEC+ supply additions would tighten crude markets and lift energy costs, which in turn raise diesel, freight and processing costs across feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-03-18 | [OPEC Scraps April Meeting but Keeps Oil Cuts in Place](https://feedsoft.ai/events/60016-opec-scraps-april-meeting-but-keeps-oil-cuts-in-place.md) | +0.0% | +7.4% |
| BRENT | 2023-04-03 | [Oil prices notch biggest gain in nearly a year after OPEC's surprise output cut](https://feedsoft.ai/events/7951-oil-prices-notch-biggest-gain-in-nearly-a-year-after-opec-s-surprise-output-cut.md) | +7.4% | +1.0% |
| BRENT | 2022-11-30 | [Crude Oil Prices Rise On Concerns OPEC+ Could Keep Oil Output Policy Unchanged](https://feedsoft.ai/events/38850-crude-oil-prices-rise-on-concerns-opec-could-keep-oil-output-policy-unchanged.md) | -4.2% | -0.8% |
| BRENT | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.3% | +7.2% |
| BRENT | 2023-05-01 | [OPEC+ announces surprise oil output cuts](https://feedsoft.ai/events/36320-opec-announces-surprise-oil-output-cuts.md) | -6.0% | -4.7% |
| WTI | 2019-03-18 | [OPEC Scraps April Meeting but Keeps Oil Cuts in Place](https://feedsoft.ai/events/60016-opec-scraps-april-meeting-but-keeps-oil-cuts-in-place.md) | +0.7% | +9.2% |
| WTI | 2023-04-03 | [Oil prices notch biggest gain in nearly a year after OPEC's surprise output cut](https://feedsoft.ai/events/7951-oil-prices-notch-biggest-gain-in-nearly-a-year-after-opec-s-surprise-output-cut.md) | +5.4% | -0.0% |
| WTI | 2022-11-30 | [Crude Oil Prices Rise On Concerns OPEC+ Could Keep Oil Output Policy Unchanged](https://feedsoft.ai/events/38850-crude-oil-prices-rise-on-concerns-opec-could-keep-oil-output-policy-unchanged.md) | -4.9% | +1.1% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/Oil-Could-Rise-Further-As-OPEC-Suggests-Keeping-Output-Cuts-In-Place.html

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