# Opec to remain flexible even as it plans for possible output increase | The National

> OPEC+ is set to meet on September 1 to decide whether to add 400,000 barrels per day in October, as part of a plan to restore 2 million bpd by year end. Kuwait's oil minister said the group could revise its output lower if needed. Oil prices had risen more than 10% the previous week amid expected US output losses from Hurricane Ida.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45730-opec-to-remain-flexible-even-as-it-plans-for-possible-output-increase-the
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The OPEC+ decision sets how much supply returns to the market, which will influence whether recent gains hold. Any output restraint would support energy prices and the cost of fuel and freight for feed.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -6.3% | -11.5% |
| WTI | 2021-12-02 | [Oil prices: OPEC and Russia stick with plans to increase oil output in January \| CNN Business](https://feedsoft.ai/events/43502-oil-prices-opec-and-russia-stick-with-plans-to-increase-oil-output-in-january.md) | +10.6% | +17.4% |
| WTI | 2022-05-06 | [OPEC+ to increase output by 432,000 b/d in June \| Oil & Gas Journal](https://feedsoft.ai/events/41319-opec-to-increase-output-by-432-000-b-d-in-june-oil-and-gas-journal.md) | -1.9% | +9.9% |
| WTI | 2026-06-08 | [OPEC+ output increase has little impact while Strait of Hormuz remains closed, says Rystad - OPEC+ output increase has little impact while Strait of Hormuz remains closed, says Rystad](https://feedsoft.ai/events/18722-opec-output-increase-has-little-impact-while-strait-of-hormuz-remains-closed.md) | -6.1% | -25.6% |
| WTI | 2026-06-07 | [OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices](https://feedsoft.ai/events/18723-opec-to-boost-oil-output-again-what-the-latest-production-hike-means-for-the.md) | -6.1% | -25.6% |
| BRENT | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -11.8% | -8.8% |
| BRENT | 2021-12-02 | [Oil prices: OPEC and Russia stick with plans to increase oil output in January \| CNN Business](https://feedsoft.ai/events/43502-oil-prices-opec-and-russia-stick-with-plans-to-increase-oil-output-in-january.md) | +9.7% | +14.1% |
| BRENT | 2022-05-06 | [OPEC+ to increase output by 432,000 b/d in June \| Oil & Gas Journal](https://feedsoft.ai/events/41319-opec-to-increase-output-by-432-000-b-d-in-june-oil-and-gas-journal.md) | -3.4% | +7.5% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2021/08/31/opec-to-remain-flexible-even-as-it-plans-for-possible-output-increase/

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