# OPEC Faces Omicron Uncertainty and Rebellious Customers - The New York Times

> Oil prices fell more than 10% within a few hours on Friday, November 26, 2021, after reports of a new Covid-19 variant. The article describes OPEC facing uncertainty about its production plans and pressure from customers.

- Date: 2021-12-01 · published 2021-12-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6304-opec-faces-omicron-uncertainty-and-rebellious-customers-the-new-york-times
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A sharp sudden drop shows how quickly sentiment can shift crude supply expectations. OPEC+ policy choices will determine whether the sell-off becomes a prolonged rout, affecting energy and feed input costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-12-02 | [OPEC Plus Maintains Oil Production Plans - The New York Times](https://feedsoft.ai/events/43499-opec-plus-maintains-oil-production-plans-the-new-york-times.md) | +10.6% | +17.4% |
| WTI | 2022-06-30 | [Oil falls 3% on uncertainty over future Opec+ output, recession fears - The Business Times](https://feedsoft.ai/events/41112-oil-falls-3-on-uncertainty-over-future-opec-output-recession-fears-the-business.md) | -6.3% | -11.5% |
| WTI | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +35.6% | +50.4% |
| WTI | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -7.0% | -2.7% |
| WTI | 2022-01-04 | [OPEC+ decision reflects easing concern of oil surplus, Omicron risk \| Reuters](https://feedsoft.ai/events/43058-opec-decision-reflects-easing-concern-of-oil-surplus-omicron-risk-reuters.md) | +2.8% | +16.0% |
| BRENT | 2021-12-02 | [OPEC Plus Maintains Oil Production Plans - The New York Times](https://feedsoft.ai/events/43499-opec-plus-maintains-oil-production-plans-the-new-york-times.md) | +9.7% | +14.1% |
| BRENT | 2022-06-30 | [Oil falls 3% on uncertainty over future Opec+ output, recession fears - The Business Times](https://feedsoft.ai/events/41112-oil-falls-3-on-uncertainty-over-future-opec-output-recession-fears-the-business.md) | -11.8% | -8.8% |
| BRENT | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +31.0% | +62.6% |

## Sources

- nytimes.com: https://www.nytimes.com/2021/12/01/business/oil-opec-omicron-prices.html

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