# OPEC+ decides to gradually curb output cuts as demand concerns persist

> OPEC+ agreed to gradually curb its output cuts starting in May, adding 350,000 bpd in May, another 350,000 bpd in June, and 450,000 bpd in July. Saudi Arabia will also begin unwinding its additional voluntary cut of 1 million bpd.

- Date: 2021-04-01 · published 2021-04-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/47509-opec-decides-to-gradually-curb-output-cuts-as-demand-concerns-persist
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The scheduled monthly increases add supply to a market that is still reliant on cuts, which pressures crude prices. Demand concerns from the pandemic remain a counterweight.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-09-01 | [OPEC+ sticks to gradual oil output hikes, ups demand forecast](https://feedsoft.ai/events/44977-opec-sticks-to-gradual-oil-output-hikes-ups-demand-forecast.md) | +1.3% | +9.5% |
| 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 | 2020-12-01 | [Oil slides as OPEC+ delays decision on output cuts](https://feedsoft.ai/events/49561-oil-slides-as-opec-delays-decision-on-output-cuts.md) | +1.1% | +5.9% |
| WTI | 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% | -4.7% |
| WTI | 2019-10-08 | [Too early to debate more output cuts: OPEC head](https://feedsoft.ai/events/56471-too-early-to-debate-more-output-cuts-opec-head.md) | +1.6% | +6.9% |
| BRENT | 2021-09-01 | [OPEC+ sticks to gradual oil output hikes, ups demand forecast](https://feedsoft.ai/events/44977-opec-sticks-to-gradual-oil-output-hikes-ups-demand-forecast.md) | -2.2% | +7.5% |
| 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 | 2020-12-01 | [Oil slides as OPEC+ delays decision on output cuts](https://feedsoft.ai/events/49561-oil-slides-as-opec-delays-decision-on-output-cuts.md) | +3.2% | +7.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/04/01/opec-to-decide-on-oil-production-policy-as-demand-concerns-persist.html

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