# OPEC - 20th OPEC and non-OPEC Ministerial... - Europétrole

> The 20th OPEC and non-OPEC Ministerial Meeting, held by videoconference, reaffirmed earlier production decisions and approved a monthly upward adjustment of 0.4 mb/d for October 2021. It also extended the compensation period for underperforming countries to the end of December 2021 and reported overall conformity of 110% in July.

- Date: 2021-02-09 · published 2021-02-09T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/48549-opec-20th-opec-and-non-opec-ministerial-europetrole
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A planned increase in OPEC+ output adds supply to a market that has been tightening, which tends to pressure crude prices lower. Stronger compliance and compensation requirements limit how much extra supply actually reaches the market.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-02-04 | [OPEC - 15th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/48556-opec-15th-opec-and-non-opec-ministerial-europetrole.md) | +4.8% | +10.0% |
| BRENT | 2018-07-27 | [Novak: OPEC + ministerial committee may discuss increase in oil production in September \| Report.az](https://feedsoft.ai/events/63953-novak-opec-ministerial-committee-may-discuss-increase-in-oil-production-in.md) | -1.8% | -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 | 2025-01-27 | [Key OPEC ministers meet in Riyadh as Trump demands output boost \| S&P Global](https://feedsoft.ai/events/26423-key-opec-ministers-meet-in-riyadh-as-trump-demands-output-boost-s-and-p-global.md) | -2.1% | -5.0% |
| BRENT | 2025-01-28 | [Saudi, other OPEC+ ministers meet after Trump calls for lower oil price](https://feedsoft.ai/events/26421-saudi-other-opec-ministers-meet-after-trump-calls-for-lower-oil-price.md) | -1.3% | -3.1% |
| WTI | 2021-02-04 | [OPEC - 15th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/48556-opec-15th-opec-and-non-opec-ministerial-europetrole.md) | +5.4% | +14.6% |
| WTI | 2018-07-27 | [Novak: OPEC + ministerial committee may discuss increase in oil production in September \| Report.az](https://feedsoft.ai/events/63953-novak-opec-ministerial-committee-may-discuss-increase-in-oil-production-in.md) | -2.8% | -3.1% |
| 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

- euro-petrole.com: https://www.euro-petrole.com/20th-opec-and-non-opec-ministerial-meeting-concludes-n-i-22677

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