# Oil better? OPEC+ confirms plan to hike crude output through July | OPEC News | Al Jazeera

> OPEC and allies confirmed plans to restore 2.1 million barrels per day of crude output through July at an online meeting on June 1. Energy ministers said the gradual increase remained the right decision, though recovery and demand still face risks.

- Date: 2021-06-01 · published 2021-06-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46495-oil-better-opec-confirms-plan-to-hike-crude-output-through-july-opec-news-al
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Confirmed supply additions cap crude price gains while demand recovers. Lower crude costs ease pressure on diesel and fuel-linked input costs for feed transport.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-03-31 | [OPEC and allies agree to gradually boost crude oil output \| AP News](https://feedsoft.ai/events/47508-opec-and-allies-agree-to-gradually-boost-crude-oil-output-ap-news.md) | -1.9% | +5.4% |
| BRENT | 2025-03-03 | [OPEC+ to proceed with planned April oil output hike](https://feedsoft.ai/events/25481-opec-to-proceed-with-planned-april-oil-output-hike.md) | -3.4% | +0.3% |
| BRENT | 2021-06-01 | [OPEC+ sticks to plan to ease supply cuts through July](https://feedsoft.ai/events/46492-opec-sticks-to-plan-to-ease-supply-cuts-through-july.md) | +2.4% | +7.5% |
| BRENT | 2021-06-01 | [OPEC+ agrees to continue planned crude output increases](https://feedsoft.ai/events/46499-opec-agrees-to-continue-planned-crude-output-increases.md) | +2.4% | +7.5% |
| BRENT | 2021-04-27 | [OPEC+ alliance affirms crude oil output hike from May, banking on improved demand](https://feedsoft.ai/events/47507-opec-alliance-affirms-crude-oil-output-hike-from-may-banking-on-improved-demand.md) | +3.2% | +4.5% |
| WTI | 2021-03-31 | [OPEC and allies agree to gradually boost crude oil output \| AP News](https://feedsoft.ai/events/47508-opec-and-allies-agree-to-gradually-boost-crude-oil-output-ap-news.md) | -1.3% | +5.4% |
| WTI | 2025-03-03 | [OPEC+ to proceed with planned April oil output hike](https://feedsoft.ai/events/25481-opec-to-proceed-with-planned-april-oil-output-hike.md) | -3.9% | -0.4% |
| WTI | 2021-06-01 | [OPEC+ sticks to plan to ease supply cuts through July](https://feedsoft.ai/events/46492-opec-sticks-to-plan-to-ease-supply-cuts-through-july.md) | +4.4% | +10.0% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2021/6/1/oil-better-opec-confirms-plan-to-hike-crude-output-through-july

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