# OPEC - 15th OPEC and non-OPEC Ministerial... - Europétrole

> The 15th OPEC and non-OPEC Ministerial Meeting, held by videoconference, approved production level adjustments for May, June and July 2021. The ministers kept Saudi Arabia's additional voluntary 1 mb/d cut in place for April and maintained the monthly review mechanism, with each adjustment capped at 0.5 mb/d.

- Date: 2021-02-04 · published 2021-02-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/48556-opec-15th-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

Approved monthly increases in OPEC+ output add supply to the market, which tends to weigh on crude prices. The capped monthly adjustments give a predictable path for supply growth.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-02-09 | [OPEC - 20th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/48549-opec-20th-opec-and-non-opec-ministerial-europetrole.md) | +4.4% | +12.8% |
| 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 | 2021-02-09 | [OPEC - 20th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/48549-opec-20th-opec-and-non-opec-ministerial-europetrole.md) | +3.6% | +10.5% |
| 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/15th-opec-and-non-opec-ministerial-meeting-concludes-n-i-22045

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