# Oil alliance OPEC+ zeroes in on group compliance

> Two OPEC+ delegates told CNBC the alliance is tightening its focus on member compliance with output pledges. Iraq, Kazakhstan and Russia have been cited for exceeding quotas, and eight members postponed their voluntary-cut unwinding to December.

- Date: 2024-09-27 · published 2024-09-27T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/28241-oil-alliance-opec-zeroes-in-on-group-compliance
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stronger enforcement of quotas could tighten supply and support prices, but overproduction has repeatedly undermined the group's credibility. The outcome for crude prices remains uncertain.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-10-02 | [OPEC+ panel sticks to output policy, doubles down on compliance](https://feedsoft.ai/events/27767-opec-panel-sticks-to-output-policy-doubles-down-on-compliance.md) | +5.4% | -4.0% |
| WTI | 2017-08-03 | [OPEC supply-cut compliance runs up against ire over country targets](https://feedsoft.ai/events/69358-opec-supply-cut-compliance-runs-up-against-ire-over-country-targets.md) | -0.0% | -7.3% |
| WTI | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.3% | +4.7% |
| WTI | 2022-03-31 | [OPEC votes to stop using IEA production data to assess quota compliance: sources \| S&P Global](https://feedsoft.ai/events/42177-opec-votes-to-stop-using-iea-production-data-to-assess-quota-compliance-sources.md) | -10.6% | -2.2% |
| WTI | 2025-02-27 | [OPEC+ Rethinking Oil Production Rampup After Trump Complications \| OilPrice.com](https://feedsoft.ai/events/25945-opec-rethinking-oil-production-rampup-after-trump-complications-oilprice-com.md) | -3.3% | +1.6% |
| BRENT | 2017-08-03 | [OPEC supply-cut compliance runs up against ire over country targets](https://feedsoft.ai/events/69358-opec-supply-cut-compliance-runs-up-against-ire-over-country-targets.md) | +0.4% | -1.6% |
| BRENT | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.1% | +4.6% |
| BRENT | 2022-03-31 | [OPEC votes to stop using IEA production data to assess quota compliance: sources \| S&P Global](https://feedsoft.ai/events/42177-opec-votes-to-stop-using-iea-production-data-to-assess-quota-compliance-sources.md) | -11.9% | -6.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/09/27/oil-alliance-opec-zeroes-in-on-group-compliance.html

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