# OPEC’s Planned Output Increase Tempered by Troubled Producers - Bloomberg

> A Bloomberg survey found that OPEC raised its output by 190,000 barrels per day in January. The increase is consistent with the agreement between the group and its allies to bring back some of the supply halted during the pandemic.

- Date: 2021-02-01 · published 2021-02-01T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/48554-opec-s-planned-output-increase-tempered-by-troubled-producers-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising OPEC output adds barrels to a market that has been in deficit. The increase is modest, so the price effect is limited, but it points to a gradual loosening of supply.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-11-14 | [OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg](https://feedsoft.ai/events/38586-opec-cuts-oil-demand-outlook-as-it-starts-to-curb-production-bloomberg.md) | -8.2% | -20.7% |
| BRENT | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.2% | -14.8% |
| BRENT | 2025-03-03 | [OPEC Oil Output Rises to One-Year High, Driven by Gains in Iraq, Venezuela, UAE - Bloomberg](https://feedsoft.ai/events/25488-opec-oil-output-rises-to-one-year-high-driven-by-gains-in-iraq-venezuela-uae.md) | -3.4% | +0.3% |
| BRENT | 2017-09-29 | [OPEC oil output rises by 50,000 bpd in September - Reuters survey](https://feedsoft.ai/events/68863-opec-oil-output-rises-by-50-000-bpd-in-september-reuters-survey.md) | -1.8% | +1.6% |
| BRENT | 2018-01-19 | [IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally - Bloomberg](https://feedsoft.ai/events/67147-iea-sees-explosive-growth-in-u-s-oil-output-as-prices-rally-bloomberg.md) | +2.0% | -8.4% |
| WTI | 2022-11-14 | [OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg](https://feedsoft.ai/events/38586-opec-cuts-oil-demand-outlook-as-it-starts-to-curb-production-bloomberg.md) | -10.1% | -18.0% |
| WTI | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.8% | -15.7% |
| WTI | 2025-03-03 | [OPEC Oil Output Rises to One-Year High, Driven by Gains in Iraq, Venezuela, UAE - Bloomberg](https://feedsoft.ai/events/25488-opec-oil-output-rises-to-one-year-high-driven-by-gains-in-iraq-venezuela-uae.md) | -3.9% | -0.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-02-01/opec-s-planned-output-increase-tempered-by-troubled-producers

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