# Take a look at the WTI and Brent crude oil prices after OPEC | IG South Africa

> OPEC and non-OPEC producers agreed to raise output by 1 million bpd, but comments from Iran and Iraq suggest the actual increase may be only 500,000 to 770,000 bpd. WTI rose more than 5% immediately after the announcement before gains pared.

- Date: 2018-06-25 · published 2018-06-25T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64676-take-a-look-at-the-wti-and-brent-crude-oil-prices-after-opec-ig-south-africa
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Doubts about delivery of the announced increase limit the supply response, supporting crude prices. Energy costs remain a factor for biofuel and feed-input economics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -0.3% | -4.5% |
| WTI | 2022-01-25 | [Oil Prices for Jan. 26, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/43302-oil-prices-for-jan-26-2022-brent-crude-wti-bloomberg.md) | +5.6% | +9.6% |
| WTI | 2022-02-28 | [Oil Prices for Mar. 01, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/42854-oil-prices-for-mar-01-2022-brent-crude-wti-bloomberg.md) | +26.3% | +25.9% |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |
| WTI | 2019-09-15 | [Brent crude oil spikes the most in history after Saudi attacks](https://feedsoft.ai/events/57247-brent-crude-oil-spikes-the-most-in-history-after-saudi-attacks.md) | +5.8% | -0.1% |
| BRENT | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -3.1% | -4.9% |
| BRENT | 2022-01-25 | [Oil Prices for Jan. 26, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/43302-oil-prices-for-jan-26-2022-brent-crude-wti-bloomberg.md) | +5.5% | +10.6% |
| BRENT | 2022-02-28 | [Oil Prices for Mar. 01, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/42854-oil-prices-for-mar-01-2022-brent-crude-wti-bloomberg.md) | +23.1% | +23.8% |

## Sources

- ig.com: https://www.ig.com/za/view-ig/take-a-look-at-the-wti-and-brent-crude-oil-prices-after-opec-180625

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