# OPEC ready to adjust oil output increases: Barkindo - Markets - Business Recorder

> OPEC Secretary General Mohammad Barkindo said OPEC and its allies stand ready to adjust their planned gradual output increase of 2 million barrels per day in the coming months, depending on market conditions. He projected 2021 global oil demand of 95.9 million bpd, up 5.9 million from 2020. OPEC+ was set to meet on January 4 to decide February output.

- Date: 2021-01-03 · published 2021-01-03T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/49056-opec-ready-to-adjust-oil-output-increases-barkindo-markets-business-recorder
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Readiness to pause or adjust supply increases signals that the producer group will manage supply to support prices. Demand growth still falls short of pre-pandemic levels, which limits how much upside the market can expect.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-08-03 | [OPEC+ approves tiny oil output rise in rebuff to Biden - Markets - Business Recorder](https://feedsoft.ai/events/39954-opec-approves-tiny-oil-output-rise-in-rebuff-to-biden-markets-business-recorder.md) | -3.4% | -4.0% |
| BRENT | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -10.5% | -5.2% |
| BRENT | 2021-12-02 | [Oil prices: OPEC and Russia stick with plans to increase oil output in January \| CNN Business](https://feedsoft.ai/events/43502-oil-prices-opec-and-russia-stick-with-plans-to-increase-oil-output-in-january.md) | +9.7% | +14.1% |
| BRENT | 2026-10-28 | [Opec+ agrees in principle to keep oil output targets steady in December, sources say - The Business Times](https://feedsoft.ai/events/4126-opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-december-sources.md) | -4.7% | — |
| BRENT | 2026-04-05 | [OPEC+ to increase oil production by 206,000 bpd in May -  Business & Economy - TASS](https://feedsoft.ai/events/19614-opec-to-increase-oil-production-by-206-000-bpd-in-may-business-and-economy-tass.md) | -9.7% | -4.1% |
| WTI | 2022-08-03 | [OPEC+ approves tiny oil output rise in rebuff to Biden - Markets - Business Recorder](https://feedsoft.ai/events/39954-opec-approves-tiny-oil-output-rise-in-rebuff-to-biden-markets-business-recorder.md) | -4.1% | -4.5% |
| WTI | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -11.0% | -7.4% |
| WTI | 2021-12-02 | [Oil prices: OPEC and Russia stick with plans to increase oil output in January \| CNN Business](https://feedsoft.ai/events/43502-oil-prices-opec-and-russia-stick-with-plans-to-increase-oil-output-in-january.md) | +10.6% | +17.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40046928

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