# OPEC+ Members Agree To Increase Oil Output By 400,000 BPD Every Month From August

> OPEC+ agreed to raise oil output by 400,000 barrels per day each month from August until the 5.8 million barrels per day of halted production is restored, around September 2022. Baselines for the UAE, Saudi Arabia, Russia, Kuwait and Iraq rise from May 2022. Brent traded near $73.59 a barrel after the announcement.

- Date: 2021-07-18 · published 2021-07-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45991-opec-members-agree-to-increase-oil-output-by-400-000-bpd-every-month-from-august
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Reuters estimated the baseline changes would add about 1.63 million barrels per day of supply from May 2022. That added supply is bearish for crude, which feeds into biofuel and energy costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-07-18 | 1 | -3.4% | -3.9 | The monthly output increase announcement, with Brent near $73.59, set up the subsequent selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-07-19 | [Arab News \| OPEC+ members agree to raise output by 400,000 barrels a day from August](https://feedsoft.ai/events/45990-arab-news-opec-members-agree-to-raise-output-by-400-000-barrels-a-day-from.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% |
| BRENT | 2022-07-18 | [OPEC+ Agrees to 100,000 bpd Oil Production Increase for September](https://feedsoft.ai/events/40406-opec-agrees-to-100-000-bpd-oil-production-increase-for-september.md) | -1.5% | -5.3% |
| BRENT | 2026-02-25 | [EXCLUSIVE: OPEC+ to consider 137,000 bpd oil output increase for April, sources say \| Reuters](https://feedsoft.ai/events/20512-exclusive-opec-to-consider-137-000-bpd-oil-output-increase-for-april-sources.md) | +16.0% | +49.9% |
| BRENT | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +2.2% | +0.4% |
| WTI | 2021-07-19 | [Arab News \| OPEC+ members agree to raise output by 400,000 barrels a day from August](https://feedsoft.ai/events/45990-arab-news-opec-members-agree-to-raise-output-by-400-000-barrels-a-day-from.md) | +0.6% | -4.7% |
| WTI | 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) | +2.8% | +16.0% |
| WTI | 2022-07-18 | [OPEC+ Agrees to 100,000 bpd Oil Production Increase for September](https://feedsoft.ai/events/40406-opec-agrees-to-100-000-bpd-oil-production-increase-for-september.md) | -2.2% | -5.0% |

## Sources

- db.forbesmiddleeast.com: https://db.forbesmiddleeast.com/industry/energy/opec-decides-to-boost-production-from-august

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