# OPEC's balancing act: increasing output against smaller demand

> The OPEC+ coalition agreed to press ahead with increasing output by roughly 2 million barrels per day starting in August as demand slowly recovers. The article highlights the delicate balance between restoring supply and avoiding a renewed price slump that could boost U.S. producers.

- Date: 2020-07-16 · published 2020-07-16T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/52007-opec-s-balancing-act-increasing-output-against-smaller-demand
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Gradual OPEC+ supply increases cap crude price gains, which reduces the energy cost pressure on diesel, freight and biofuel economics for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-09-01 | [OPEC Plus Will Increase Oil Output (Published 2025)](https://feedsoft.ai/events/23234-opec-plus-will-increase-oil-output-published-2025.md) | -2.7% | -0.4% |
| WTI | 2017-08-10 | [OPEC production rises again to above its output ceiling - The Korea Herald](https://feedsoft.ai/events/69361-opec-production-rises-again-to-above-its-output-ceiling-the-korea-herald.md) | -5.6% | -1.0% |
| 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 | 2024-08-30 | [Oil Prices Drop as OPEC+ Considers Increasing Production in October \| OilPrice.com](https://feedsoft.ai/events/28974-oil-prices-drop-as-opec-considers-increasing-production-in-october-oilprice-com.md) | -10.8% | -10.5% |
| WTI | 2021-04-01 | [OPEC Supply Rises as Iran Rebound Complicates Balancing Task - Bloomberg](https://feedsoft.ai/events/47510-opec-supply-rises-as-iran-rebound-complicates-balancing-task-bloomberg.md) | +0.7% | +9.8% |
| BRENT | 2025-09-01 | [OPEC Plus Will Increase Oil Output (Published 2025)](https://feedsoft.ai/events/23234-opec-plus-will-increase-oil-output-published-2025.md) | -4.1% | +3.9% |
| BRENT | 2017-08-10 | [OPEC production rises again to above its output ceiling - The Korea Herald](https://feedsoft.ai/events/69361-opec-production-rises-again-to-above-its-output-ceiling-the-korea-herald.md) | -4.0% | +3.6% |
| 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

- axios.com: https://www.axios.com/2020/07/16/opec-oil-coronavirus-industry-drilling

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