# Opec+ agrees output hike from January - Business - DAWN.COM

> OPEC and Russia agreed to raise output by 500,000 bpd from January, cutting the group's total curbs to 7.2 million bpd from 7.7 million. They failed to agree on a broader policy for the rest of 2021, and the group will meet monthly to set output.

- Date: 2020-12-03 · published 2020-12-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/49556-opec-agrees-output-hike-from-january-business-dawn-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The increase is modest, so supply stays tightly managed while demand recovers from the second COVID-19 wave. Energy prices are likely to remain supported, but monthly decisions add volatility to fuel and input costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| WTI | 2021-12-02 | [OPEC+ agrees on planned January oil output rise, sources say \| Reuters](https://feedsoft.ai/events/43497-opec-agrees-on-planned-january-oil-output-rise-sources-say-reuters.md) | +10.6% | +17.4% |
| WTI | 2026-04-06 | [OPEC+ countries agree to raise oil output by 206,000 bpd from May \| ZAWYA](https://feedsoft.ai/events/19609-opec-countries-agree-to-raise-oil-output-by-206-000-bpd-from-may-zawya.md) | -13.2% | -7.5% |
| WTI | 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) | -2.1% | — |
| 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 | 2021-12-02 | [OPEC+ agrees on planned January oil output rise, sources say \| Reuters](https://feedsoft.ai/events/43497-opec-agrees-on-planned-january-oil-output-rise-sources-say-reuters.md) | +9.7% | +14.1% |

## Sources

- dawn.com: https://www.dawn.com/news/1593928
- marketwatch.com: https://www.marketwatch.com/story/why-the-opec-agreement-to-boost-production-in-2021-hasnt-tanked-oil-prices-11607019341

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