# OPEC+ agrees to keep oil output unchanged

> Oil prices fell on February 2 after the US and Iran agreed to resume nuclear talks, reducing fears of a conflict. Brent dropped about 4.9% to around $65.92 a barrel and WTI fell 5.3%. A stronger dollar and milder US weather forecasts also weighed on prices.

- Date: 2026-02-01 · published 2026-02-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8797-opec-agrees-to-keep-oil-output-unchanged
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Easing conflict risk removes the supply-disruption premium from crude, which lowers energy and freight costs for feed makers. Milder US weather reduces diesel demand for heating and power, adding to the bearish pressure.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-02-02 | 1 | -6.3% | -3.7 | Brent fell about 4.9% to around $65.92 on resumed US-Iran nuclear talks, a stronger dollar and milder US weather; OPEC+ holding output flat gave no offsetting support. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.8% | +3.1% |
| WTI | 2026-05-03 | [OPEC+ agrees third oil output quota hike since Hormuz closure \| Reuters](https://feedsoft.ai/events/19147-opec-agrees-third-oil-output-quota-hike-since-hormuz-closure-reuters.md) | -6.3% | -9.2% |
| WTI | 2017-08-22 | [As Compliance Slips, OPEC Decides To 'Reconsider' Output Deal \| OilPrice.com](https://feedsoft.ai/events/69356-as-compliance-slips-opec-decides-to-reconsider-output-deal-oilprice-com.md) | -2.0% | +4.5% |
| WTI | 2025-09-01 | [OPEC Plus Will Increase Oil Output (Published 2025)](https://feedsoft.ai/events/23234-opec-plus-will-increase-oil-output-published-2025.md) | -2.7% | -0.4% |
| WTI | 2018-10-31 | [OPEC oil output rises to highest since 2016 despite Iran - Reuters survey](https://feedsoft.ai/events/62453-opec-oil-output-rises-to-highest-since-2016-despite-iran-reuters-survey.md) | -6.0% | -24.2% |
| BRENT | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.2% | +2.7% |
| BRENT | 2026-05-03 | [OPEC+ agrees third oil output quota hike since Hormuz closure \| Reuters](https://feedsoft.ai/events/19147-opec-agrees-third-oil-output-quota-hike-since-hormuz-closure-reuters.md) | -9.5% | -14.6% |
| BRENT | 2017-08-22 | [As Compliance Slips, OPEC Decides To 'Reconsider' Output Deal \| OilPrice.com](https://feedsoft.ai/events/69356-as-compliance-slips-opec-decides-to-reconsider-output-deal-oilprice-com.md) | +0.2% | +7.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-02-01/opec-sticks-with-supply-pause-even-as-oil-climbs-on-iran
- cnbc.com: https://www.cnbc.com/2026/02/01/opec-agrees-in-principle-to-keep-oil-output-pause-for-march-reuters.html
- reuters.com: https://www.reuters.com/business/energy/opec-set-keep-planned-oil-output-pause-march-prices-jump-sources-say-2026-02-01/
- rigzone.com: https://www.rigzone.com/news/opec_8_reaffirm_decision_to_pause_output_hikes-02-feb-2026-182904-article/

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