# Exclusive - OPEC and allies consider oil output boost as Iranian supply falls: source | Reuters

> OPEC and allied producers are discussing raising output by 500,000 barrels per day to offset lost Iranian supply caused by US sanctions, according to a Reuters source. The talks are not finalized and the next formal OPEC meeting is set for December 3.

- Date: 2018-09-21 · published 2018-09-21T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62930-exclusive-opec-and-allies-consider-oil-output-boost-as-iranian-supply-falls
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A possible supply increase would cap crude prices that have been rising on Iran sanctions, easing energy input costs for feed manufacturers if it is adopted.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-09-21 | [Oil pares gains after report OPEC, allies considering supply hike](https://feedsoft.ai/events/63204-oil-pares-gains-after-report-opec-allies-considering-supply-hike.md) | +1.9% | -3.0% |
| WTI | 2026-10-29 | [Oil falls as efforts to revive US-Iran talks ease supply concerns](https://feedsoft.ai/events/1443-oil-falls-as-efforts-to-revive-us-iran-talks-ease-supply-concerns.md) | -2.3% | — |
| WTI | 2025-08-05 | [Oil prices fall as OPEC+ output hikes counter Russia disruption concerns \| Reuters](https://feedsoft.ai/events/23233-oil-prices-fall-as-opec-output-hikes-counter-russia-disruption-concerns-reuters.md) | -3.4% | -1.7% |
| WTI | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +17.0% | +4.7% |
| WTI | 2017-08-22 | [As Compliance Slips, OPEC Decides To 'Reconsider' Output Deal \| OilPrice.com](https://feedsoft.ai/events/69356-as-compliance-slips-opec-decides-to-reconsider-output-deal-oilprice-com.md) | -2.0% | +4.5% |
| BRENT | 2018-09-21 | [Oil pares gains after report OPEC, allies considering supply hike](https://feedsoft.ai/events/63204-oil-pares-gains-after-report-opec-allies-considering-supply-hike.md) | +3.5% | +1.2% |
| BRENT | 2026-10-29 | [Oil falls as efforts to revive US-Iran talks ease supply concerns](https://feedsoft.ai/events/1443-oil-falls-as-efforts-to-revive-us-iran-talks-ease-supply-concerns.md) | -5.4% | — |
| BRENT | 2025-08-05 | [Oil prices fall as OPEC+ output hikes counter Russia disruption concerns \| Reuters](https://feedsoft.ai/events/23233-oil-prices-fall-as-opec-output-hikes-counter-russia-disruption-concerns-reuters.md) | -3.1% | -2.2% |

## Sources

- reuters.com: https://www.reuters.com/article/world/uk/exclusive-opec-and-allies-consider-oil-output-boost-as-iranian-supply-falls-s-idUSKCN1M1282/

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