# 7 OPEC+ countries agree to expand monthly oil production modestly as prices slide

> Seven OPEC+ countries agreed to add a combined 188,000 barrels per day to output in the coming month, the fifth consecutive monthly increase. The decision follows a fall in fuel prices after the US and Iran reached an interim deal that reopened the Strait of Hormuz to shipping.

- Date: 2026-11-04 · published 2026-11-04T21:12:28.900Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80519-7-opec-countries-agree-to-expand-monthly-oil-production-modestly-as-prices-slide
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Additional barrels from OPEC+ add to supply just as Hormuz traffic recovers, which pressures crude prices. Buyers of fuel and energy-linked feed inputs should expect softer energy costs unless the strait disruption returns.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-07-05 | [OPEC+ countries agree to increase oil production in August \| AP News](https://feedsoft.ai/events/18250-opec-countries-agree-to-increase-oil-production-in-august-ap-news.md) | +7.0% | +33.1% |
| BRENT | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +2.2% | +0.4% |
| BRENT | 2017-05-25 | [OPEC and non-OPEC members agree to extend production cuts for nine months](https://feedsoft.ai/events/70928-opec-and-non-opec-members-agree-to-extend-production-cuts-for-nine-months.md) | -7.0% | -16.6% |
| 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 | 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% |
| WTI | 2026-07-05 | [OPEC+ countries agree to increase oil production in August \| AP News](https://feedsoft.ai/events/18250-opec-countries-agree-to-increase-oil-production-in-august-ap-news.md) | +3.9% | +23.4% |
| WTI | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +1.7% | +0.1% |
| WTI | 2017-05-25 | [OPEC and non-OPEC members agree to extend production cuts for nine months](https://feedsoft.ai/events/70928-opec-and-non-opec-members-agree-to-extend-production-cuts-for-nine-months.md) | -5.4% | -16.7% |

## Sources

- conven.org: https://conven.org/saudi-arabia/news/7-opec-countries-agree-to-expand-monthly-oil-production-modestly-as-prices-slide/

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