# Opec+ committee meeting keeps oil output policy unchanged - The Business Times

> The OPEC+ Joint Ministerial Monitoring Committee proposed no changes to group oil output at its February 1 meeting. It noted high conformity among members and said OPEC+ will decide later whether to extend 2.2 million bpd of voluntary cuts expiring at the end of March.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

No change to policy keeps the current cuts in place through March, which is supportive for crude. The pending decision on extension sets the next price catalyst.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-02-01 | [OPEC+ committee recommends no change in oil output policy at virtual meeting](https://feedsoft.ai/events/37215-opec-committee-recommends-no-change-in-oil-output-policy-at-virtual-meeting.md) | -0.8% | -0.5% |
| BRENT | 2024-04-02 | [OPEC+ unlikely to change output policy at panel meeting](https://feedsoft.ai/events/30643-opec-unlikely-to-change-output-policy-at-panel-meeting.md) | +4.9% | +1.9% |
| BRENT | 2024-07-18 | [OPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say \| Reuters](https://feedsoft.ai/events/29159-opec-unlikely-to-change-oil-output-policy-at-aug-1-jmmc-meeting-sources-say.md) | -3.6% | -5.2% |
| BRENT | 2021-08-30 | [OPEC+ likely to keep oil output policy from September unchanged, sources say \| Reuters](https://feedsoft.ai/events/45470-opec-likely-to-keep-oil-output-policy-from-september-unchanged-sources-say.md) | +0.5% | +7.3% |
| BRENT | 2024-01-29 | [No changes to oil production policy expected at OPEC+ meeting](https://feedsoft.ai/events/32041-no-changes-to-oil-production-policy-expected-at-opec-meeting.md) | -6.0% | -0.7% |
| WTI | 2023-02-01 | [OPEC+ committee recommends no change in oil output policy at virtual meeting](https://feedsoft.ai/events/37215-opec-committee-recommends-no-change-in-oil-output-policy-at-virtual-meeting.md) | -2.2% | -1.7% |
| WTI | 2024-04-02 | [OPEC+ unlikely to change output policy at panel meeting](https://feedsoft.ai/events/30643-opec-unlikely-to-change-output-policy-at-panel-meeting.md) | +3.2% | -0.7% |
| WTI | 2024-07-18 | [OPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say \| Reuters](https://feedsoft.ai/events/29159-opec-unlikely-to-change-oil-output-policy-at-aug-1-jmmc-meeting-sources-say.md) | -6.4% | -6.9% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/global/opec-committee-meeting-keeps-oil-output-policy-unchanged

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