# Oil dives as OPEC signals plan to boost supplies | AP News

> Oil prices fell by the most in 11 months in New York after Saudi Arabia said OPEC and its partners expect to boost supplies later this year. The move would ease output restraints that have been in place since early 2017. Two ministers planned further meetings before the full OPEC gathering.

- Date: 2018-05-25 · published 2018-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/64938-oil-dives-as-opec-signals-plan-to-boost-supplies-ap-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signaled supply increases reduce crude prices, which lowers the cost of biofuel feedstocks and weakens the support for vegetable oil prices. Energy-linked input costs for feed production also ease.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-03-31 | [OPEC and allies agree to gradually boost crude oil output \| AP News](https://feedsoft.ai/events/47508-opec-and-allies-agree-to-gradually-boost-crude-oil-output-ap-news.md) | -1.3% | +5.4% |
| WTI | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.7% |
| WTI | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +5.8% | -7.1% |
| WTI | 2025-01-20 | [Oil falls as Trump's plan to boost US oil output takes shape](https://feedsoft.ai/events/26687-oil-falls-as-trump-s-plan-to-boost-us-oil-output-takes-shape.md) | -6.3% | -8.0% |
| 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% |
| BRENT | 2021-03-31 | [OPEC and allies agree to gradually boost crude oil output \| AP News](https://feedsoft.ai/events/47508-opec-and-allies-agree-to-gradually-boost-crude-oil-output-ap-news.md) | -1.9% | +5.4% |
| BRENT | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.4% |
| BRENT | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +6.0% | -0.6% |

## Sources

- apnews.com: https://apnews.com/article/business-middle-east-donald-trump-saudi-arabia-prices-ebc3d78b2e2d476bbb252aa3da3fdeba

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