# The AEC welcomes OPEC decision to raise oil production - African Energy Chamber

> The African Energy Chamber welcomed OPEC's agreement to move toward 100% conformity with its November 2016 output adjustment from July 1, 2018. Conformity was 152% for OPEC members and 147% for Declaration of Cooperation members as of May 2018.

- Date: 2018-06-23 · published 2018-06-23T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/64449-the-aec-welcomes-opec-decision-to-raise-oil-production-african-energy-chamber
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The statement reflects a commitment to bring output back in line with agreed quotas, which would add supply and weigh on crude prices. It is an industry reaction with no new supply figures.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-06-23 | [OPEC deal to raise oil production will 'rein in prices' - Algerian PM](https://feedsoft.ai/events/64448-opec-deal-to-raise-oil-production-will-rein-in-prices-algerian-pm.md) | +7.6% | -1.4% |
| WTI | 2025-10-05 | [Opec+ plus to raise oil production by 137,000 barrels a day in November](https://feedsoft.ai/events/22306-opec-plus-to-raise-oil-production-by-137-000-barrels-a-day-in-november.md) | -3.1% | +0.2% |
| WTI | 2025-07-08 | [OPEC+ countries agree to raise crude oil production by 548 kb/d in August 2025 \| Enerdata](https://feedsoft.ai/events/23677-opec-countries-agree-to-raise-crude-oil-production-by-548-kb-d-in-august-2025.md) | -1.4% | -2.6% |
| 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 | 2021-06-01 | [OPEC to raise oil production in July, stays mum on what’s next](https://feedsoft.ai/events/46493-opec-to-raise-oil-production-in-july-stays-mum-on-what-s-next.md) | +4.4% | +10.0% |
| BRENT | 2018-06-23 | [OPEC deal to raise oil production will 'rein in prices' - Algerian PM](https://feedsoft.ai/events/64448-opec-deal-to-raise-oil-production-will-rein-in-prices-algerian-pm.md) | +5.1% | -2.8% |
| BRENT | 2025-10-05 | [Opec+ plus to raise oil production by 137,000 barrels a day in November](https://feedsoft.ai/events/22306-opec-plus-to-raise-oil-production-by-137-000-barrels-a-day-in-november.md) | -2.7% | -0.1% |
| BRENT | 2025-07-08 | [OPEC+ countries agree to raise crude oil production by 548 kb/d in August 2025 \| Enerdata](https://feedsoft.ai/events/23677-opec-countries-agree-to-raise-crude-oil-production-by-548-kb-d-in-august-2025.md) | -1.0% | -2.3% |

## Sources

- energychamber.org: https://energychamber.org/the-aec-welcomes-opec-decision-to-raise-oil-production/

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