# Opec+ ends deadlock and will boost supply in August | The National

> OPEC+ reached a consensus to phase out 5.8 million barrels per day of withheld supply after weeks of deadlock. The group will add 400,000 barrels per day in August and revise baselines used for quotas from May 2022. The UAE baseline rises to 3.5 million barrels per day from 3.168 million.

- Date: 2021-07-18 · published 2021-07-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45989-opec-ends-deadlock-and-will-boost-supply-in-august-the-national
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Baseline increases for several producers lift their future quota ceilings, expanding potential supply in 2022. This is a bearish factor for crude over the medium term.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-08-01 | [OPEC+ Will Boost Supply Even Faster With Larger August Hike](https://feedsoft.ai/events/23673-opec-will-boost-supply-even-faster-with-larger-august-hike.md) | -8.6% | -6.0% |
| BRENT | 2026-07-06 | [OPEC Decides to Boost Production Further in August \| Rigzone](https://feedsoft.ai/events/18253-opec-decides-to-boost-production-further-in-august-rigzone.md) | +7.0% | +33.1% |
| BRENT | 2021-09-01 | [Opec+ stays the course to bring 400,000 bpd supply to the market in September \| The National](https://feedsoft.ai/events/44982-opec-stays-the-course-to-bring-400-000-bpd-supply-to-the-market-in-september.md) | -2.2% | +7.5% |
| 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 | 2020-08-01 | [What to expect as Opec+ tapers its historic output deal \| The National](https://feedsoft.ai/events/51540-what-to-expect-as-opec-tapers-its-historic-output-deal-the-national.md) | +2.4% | +4.4% |
| WTI | 2025-08-01 | [OPEC+ Will Boost Supply Even Faster With Larger August Hike](https://feedsoft.ai/events/23673-opec-will-boost-supply-even-faster-with-larger-august-hike.md) | -7.8% | -7.4% |
| WTI | 2026-07-06 | [OPEC Decides to Boost Production Further in August \| Rigzone](https://feedsoft.ai/events/18253-opec-decides-to-boost-production-further-in-august-rigzone.md) | +3.9% | +23.4% |
| WTI | 2021-09-01 | [Opec+ stays the course to bring 400,000 bpd supply to the market in September \| The National](https://feedsoft.ai/events/44982-opec-stays-the-course-to-bring-400-000-bpd-supply-to-the-market-in-september.md) | +1.3% | +9.5% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2021/07/18/breaking-news-opec-ends-deadlock-and-will-boost-supply-in-august/

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