# OPEC+ mulls oil output as Omicron uncertainty weighs on markets | OPEC News | Al Jazeera

> OPEC+ is meeting to decide whether to proceed with a planned 400,000 bpd output increase or hold off due to Omicron uncertainty. Oil had its largest daily drop since March 2020 on Friday, and the US and other countries are tapping strategic reserves to cool prices.

- Date: 2021-12-01 · published 2021-12-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6816-opec-mulls-oil-output-as-omicron-uncertainty-weighs-on-markets-opec-news-al
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Uncertainty over Omicron-driven demand and possible OPEC+ output changes will drive crude price direction, which feeds into energy and biofuel costs for feed. Holding output flat would support prices, while proceeding with the increase would add bearish pressure.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-01-31 | [OPEC does not control price of oil, says cartel chief \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/37689-opec-does-not-control-price-of-oil-says-cartel-chief-opec-news-al-jazeera.md) | -4.9% | -1.3% |
| WTI | 2020-02-06 | [U.S., global oil benchmarks split ways as Russia resists deeper OPEC+ output cuts - MarketWatch](https://feedsoft.ai/events/54750-u-s-global-oil-benchmarks-split-ways-as-russia-resists-deeper-opec-output-cuts.md) | +0.6% | -9.7% |
| WTI | 2026-04-06 | [OPEC+ to hike crude output: Will it make a difference to oil prices? \| Euronews](https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews.md) | -13.2% | -7.5% |
| WTI | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.4% | -1.9% |
| WTI | 2020-11-30 | [OPEC alliance fails to decide on output hike ahead of major meeting – Businessday NG](https://feedsoft.ai/events/50067-opec-alliance-fails-to-decide-on-output-hike-ahead-of-major-meeting-businessday.md) | +1.5% | +4.3% |
| BRENT | 2023-01-31 | [OPEC does not control price of oil, says cartel chief \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/37689-opec-does-not-control-price-of-oil-says-cartel-chief-opec-news-al-jazeera.md) | -4.9% | -3.6% |
| BRENT | 2026-04-06 | [OPEC+ to hike crude output: Will it make a difference to oil prices? \| Euronews](https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews.md) | -9.7% | -4.1% |
| BRENT | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.1% | +0.0% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2021/12/1/opec-mulls-oil-output-as-omicron-uncertainty-weighs-on-markets

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