# OPEC+ maintains production plan | Wood Mackenzie

> Wood Mackenzie said OPEC+ is holding to its plan to increase supply gradually over May, June and July, with Saudi Arabia easing its extra 1 million b/d cut. The firm noted risks from weaker demand in India and possible Iran nuclear deal supply returns.

- Date: 2021-04-27 · published 2021-04-27T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/47511-opec-maintains-production-plan-wood-mackenzie
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A confirmed gradual supply increase is bearish for crude prices, which affect fuel and transport costs for feed. Demand weakness in India and a possible Iran deal are the main swing factors.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-12-02 | [OPEC Plus Maintains Oil Production Plans - The New York Times](https://feedsoft.ai/events/43499-opec-plus-maintains-oil-production-plans-the-new-york-times.md) | +10.6% | +17.4% |
| WTI | 2025-06-01 | [OPEC+ to Increase Oil Production—Again](https://feedsoft.ai/events/24856-opec-to-increase-oil-production-again.md) | +6.2% | +7.6% |
| WTI | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -1.9% | +8.5% |
| WTI | 2025-07-08 | [Saudi plays short and long game with OPEC+ production gamble](https://feedsoft.ai/events/23672-saudi-plays-short-and-long-game-with-opec-production-gamble.md) | -1.4% | -2.6% |
| WTI | 2024-07-18 | [OPEC+ will stick to oil production hike plan as upcoming meeting, delegates report](https://feedsoft.ai/events/29162-opec-will-stick-to-oil-production-hike-plan-as-upcoming-meeting-delegates-report.md) | -6.4% | -6.9% |
| BRENT | 2021-12-02 | [OPEC Plus Maintains Oil Production Plans - The New York Times](https://feedsoft.ai/events/43499-opec-plus-maintains-oil-production-plans-the-new-york-times.md) | +9.7% | +14.1% |
| BRENT | 2025-06-01 | [OPEC+ to Increase Oil Production—Again](https://feedsoft.ai/events/24856-opec-to-increase-oil-production-again.md) | +4.9% | +7.0% |
| BRENT | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -2.0% | +7.9% |

## Sources

- woodmac.com: https://www.woodmac.com/press-releases/opec_holds_firm_on_output/

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