# OPEC+ agrees oil supply boost after UAE, Saudi reach compromise | Reuters

> OPEC+ ministers agreed on Sunday to raise oil output from August after Saudi Arabia and others accepted a request from the UAE that had threatened the plan. The group also agreed new production baselines effective May 2022. Prices had climbed to 2-1/2 year highs during the pandemic recovery.

- Date: 2021-07-18 · published 2021-07-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45985-opec-agrees-oil-supply-boost-after-uae-saudi-reach-compromise-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The planned monthly increases add supply to a market that had been tightening, which pressures crude prices lower. Lower crude eases energy and biofuel-linked input costs over time.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2021-07-19 | 5 | -10.4% | -3.2 | Resolution of the Saudi-UAE deadlock removed supply uncertainty and let output rise from August, pressuring prices. |
| BRENT | 2021-07-18 | 1 | -3.4% | -3.9 | The Sunday OPEC+ compromise resolved the deadlock and cleared the way for higher August output, so the market priced in more supply. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-06-23 | [OPEC+ Agrees to Oil-Supply Boost in Victory for Saudis, Russia - Bloomberg](https://feedsoft.ai/events/64447-opec-agrees-to-oil-supply-boost-in-victory-for-saudis-russia-bloomberg.md) | +5.1% | -2.8% |
| BRENT | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.4% |
| BRENT | 2025-09-07 | [OPEC+ agrees further oil output boost from October to regain market share \| Reuters](https://feedsoft.ai/events/22768-opec-agrees-further-oil-output-boost-from-october-to-regain-market-share-reuters.md) | +3.4% | +0.2% |
| BRENT | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.4% |
| BRENT | 2022-01-04 | [OPEC+ agrees oil output increase from February \| Reuters](https://feedsoft.ai/events/43057-opec-agrees-oil-output-increase-from-february-reuters.md) | +3.3% | +16.7% |
| WTI | 2018-06-23 | [OPEC+ Agrees to Oil-Supply Boost in Victory for Saudis, Russia - Bloomberg](https://feedsoft.ai/events/64447-opec-agrees-to-oil-supply-boost-in-victory-for-saudis-russia-bloomberg.md) | +7.6% | -1.4% |
| WTI | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.7% |
| WTI | 2025-09-07 | [OPEC+ agrees further oil output boost from October to regain market share \| Reuters](https://feedsoft.ai/events/22768-opec-agrees-further-oil-output-boost-from-october-to-regain-market-share-reuters.md) | +1.3% | -1.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-meets-agree-oil-supply-boost-prices-rise-2021-07-18/

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