# 38th OPEC+ Ministerial Meeting Concludes - Shana

> Iran's Shana news agency published the conclusions of the 38th OPEC+ Ministerial Meeting on December 5, 2024. The meeting extended overall crude production levels through December 31, 2026, and reaffirmed monitoring mechanisms including the JMMC's bimonthly reviews. It also set a framework for conformity checks based on average production.

- Date: 2024-12-05 · published 2024-12-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/26874-38th-opec-ministerial-meeting-concludes-shana
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Extended quotas through 2026 keep supply restrained, supporting crude benchmarks that feed into energy and logistics costs. Clarity on monitoring reduces the chance of sudden supply surges.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-05-25 | [OPEC : OPEC 172nd Meeting concludes](https://feedsoft.ai/events/70927-opec-opec-172nd-meeting-concludes.md) | -7.0% | -16.6% |
| BRENT | 2024-06-02 | [37th OPEC and non-OPEC Ministerial Meeting Statement](https://feedsoft.ai/events/29651-37th-opec-and-non-opec-ministerial-meeting-statement.md) | -2.0% | +7.9% |
| BRENT | 2016-12-12 | [OPEC - OPEC and non-OPEC Ministerial Meeting - Europétrole](https://feedsoft.ai/events/73377-opec-opec-and-non-opec-ministerial-meeting-europetrole.md) | +2.7% | +0.3% |
| BRENT | 2016-12-01 | [OPEC meeting in Vienna concludes \| Hydrocarbon Engineering](https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering.md) | +6.6% | +12.9% |
| BRENT | 2016-12-11 | [OPEC, Non-OPEC Ministers Meet](https://feedsoft.ai/events/73392-opec-non-opec-ministers-meet.md) | +2.7% | +0.3% |
| WTI | 2017-05-25 | [OPEC : OPEC 172nd Meeting concludes](https://feedsoft.ai/events/70927-opec-opec-172nd-meeting-concludes.md) | -5.4% | -16.7% |
| WTI | 2024-06-02 | [37th OPEC and non-OPEC Ministerial Meeting Statement](https://feedsoft.ai/events/29651-37th-opec-and-non-opec-ministerial-meeting-statement.md) | -1.9% | +8.5% |
| WTI | 2016-12-12 | [OPEC - OPEC and non-OPEC Ministerial Meeting - Europétrole](https://feedsoft.ai/events/73377-opec-opec-and-non-opec-ministerial-meeting-europetrole.md) | +0.8% | -1.3% |

## Sources

- en.shana.ir: https://en.shana.ir/news/650501/38th-OPEC-and-non-OPEC-Ministerial-Meeting

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