# OPEC+ calm ahead of committee meeting as oil prices rise, but tough decisions loom | S&P Global

> Ahead of a monitoring committee meeting on February 3, OPEC+ delegates expected routine talks on quota compliance and forecasts, with no changes to the deal. Oil prices had risen back to pre-crash levels after Saudi Arabia's surprise extra output cut. Harder talks are expected at the full ministerial meeting on March 4.

- Date: 2021-02-02 · published 2021-02-02T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/48555-opec-calm-ahead-of-committee-meeting-as-oil-prices-rise-but-tough-decisions
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of a calm meeting leave current quotas in place and keep prices supported in the short term. Divisions over post-March supply are the main risk to the price outlook.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-07-14 | [OPEC+ monitoring committee to meet Aug 3 to review oil output cuts: delegates \| S&P Global](https://feedsoft.ai/events/34942-opec-monitoring-committee-to-meet-aug-3-to-review-oil-output-cuts-delegates-s.md) | -2.1% | +6.9% |
| BRENT | 2019-05-01 | [Oil prices mixed as talk of extending OPEC cuts faces rising U.S. supply](https://feedsoft.ai/events/59238-oil-prices-mixed-as-talk-of-extending-opec-cuts-faces-rising-u-s-supply.md) | -2.9% | -3.4% |
| BRENT | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +1.9% |
| 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 | 2025-02-06 | [Q&A: Repercussions of Saudi Oil Decisions Amid Competing Trump and OPEC+ Priorities - Center on Global Energy Policy at Columbia University SIPA \| CGEP %](https://feedsoft.ai/events/25949-q-and-a-repercussions-of-saudi-oil-decisions-amid-competing-trump-and-opec.md) | +0.8% | -6.1% |
| WTI | 2019-05-01 | [Oil prices mixed as talk of extending OPEC cuts faces rising U.S. supply](https://feedsoft.ai/events/59238-oil-prices-mixed-as-talk-of-extending-opec-cuts-faces-rising-u-s-supply.md) | -3.8% | -7.6% |
| WTI | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +3.6% |
| 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% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/020221-opec-calm-ahead-of-committee-meeting-as-oil-prices-rise-but-tough-decisions-loom

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