# OPEC+ JMMC agrees to extend compensation period for overproduction till year-end – Reuters — Octa

> OPEC+'s Joint Ministerial Monitoring Committee agreed to extend the period for compensating overproduction until the end of December. Saudi Arabia's energy minister also said OPEC+ could hold an extraordinary meeting in October if the market worsened. Crude edged higher on the report, with WTI up 1.6% at $40.80.

- Date: 2020-09-17 · published 2020-09-17T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/51055-opec-jmmc-agrees-to-extend-compensation-period-for-overproduction-till-year-end
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Extended compensation keeps supply constrained into year-end, which supports crude and the energy costs behind diesel and fertilizer. The effect on feed prices is indirect.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-20 | [OPEC+ issues new plan for oil cuts to compensate for overproduction \| Reuters](https://feedsoft.ai/events/25490-opec-issues-new-plan-for-oil-cuts-to-compensate-for-overproduction-reuters.md) | +3.9% | -6.8% |
| WTI | 2019-07-01 | [OPEC agrees to extend current production cuts by 9 months](https://feedsoft.ai/events/58006-opec-agrees-to-extend-current-production-cuts-by-9-months.md) | -1.4% | -2.5% |
| WTI | 2020-06-06 | [OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times](https://feedsoft.ai/events/52508-opec-and-russia-agree-to-extend-oil-production-cuts-the-new-york-times.md) | -8.3% | +2.6% |
| WTI | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.2% | +4.9% |
| WTI | 2024-12-05 | [OPEC+ extend production quotas for all of 2026, voluntary adjustments until end of Q1 2025; compensation schedule not ready](https://feedsoft.ai/events/26876-opec-extend-production-quotas-for-all-of-2026-voluntary-adjustments-until-end.md) | +2.6% | +8.3% |
| BRENT | 2025-03-20 | [OPEC+ issues new plan for oil cuts to compensate for overproduction \| Reuters](https://feedsoft.ai/events/25490-opec-issues-new-plan-for-oil-cuts-to-compensate-for-overproduction-reuters.md) | +4.0% | -6.3% |
| BRENT | 2019-07-01 | [OPEC agrees to extend current production cuts by 9 months](https://feedsoft.ai/events/58006-opec-agrees-to-extend-current-production-cuts-by-9-months.md) | -4.2% | -6.1% |
| BRENT | 2020-06-06 | [OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times](https://feedsoft.ai/events/52508-opec-and-russia-agree-to-extend-oil-production-cuts-the-new-york-times.md) | -7.2% | +3.3% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/850807/

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