# OPEC+ to ease production cuts in August | Oil & Gas Journal

> OPEC+ agreed in a July 15 video conference to ease production cuts in August as scheduled, citing growing demand as economies reopen. Officials said the decision could be reconsidered in an emergency meeting if lockdowns return, and the effective total cut will be about 8.1 to 8.3 million barrels per day.

- Date: 2020-07-16 · published 2020-07-16T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52005-opec-to-ease-production-cuts-in-august-oil-and-gas-journal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A planned easing of supply with an emergency-revision clause keeps crude sensitive to COVID news, and any supply increase tends to pressure energy prices that affect feed transport and biofuel demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-15 | [OPEC and allies to ease cuts, allow more oil production \| AP News](https://feedsoft.ai/events/52002-opec-and-allies-to-ease-cuts-allow-more-oil-production-ap-news.md) | +3.8% | +3.1% |
| WTI | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.8% | +3.1% |
| WTI | 2020-07-15 | [OPEC+ to boost oil production next month \| OPEC \| Al Jazeera](https://feedsoft.ai/events/52003-opec-to-boost-oil-production-next-month-opec-al-jazeera.md) | +3.8% | +3.1% |
| WTI | 2020-06-30 | [OPEC and Russia likely to ease output cuts in August – Reuters — Octa](https://feedsoft.ai/events/52792-opec-and-russia-likely-to-ease-output-cuts-in-august-reuters-octa.md) | +2.3% | +3.2% |
| WTI | 2020-07-15 | [Opec+ to ease historic output curbs from August \| The National](https://feedsoft.ai/events/52004-opec-to-ease-historic-output-curbs-from-august-the-national.md) | +3.8% | +3.1% |
| BRENT | 2020-07-15 | [OPEC and allies to ease cuts, allow more oil production \| AP News](https://feedsoft.ai/events/52002-opec-and-allies-to-ease-cuts-allow-more-oil-production-ap-news.md) | +3.2% | +2.7% |
| BRENT | 2026-06-01 | [OPEC Plus, in Symbolic Gesture, to Increase Oil Production](https://feedsoft.ai/events/19153-opec-plus-in-symbolic-gesture-to-increase-oil-production.md) | +2.9% | -23.1% |
| BRENT | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.2% | +2.7% |

## Sources

- ogj.com: https://www.ogj.com/general-interest/economics-markets/article/14179716/opec-to-ease-production-cuts-in-august

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