# OPEC+’s regularly scheduled monthly joint committee meeting sent oil prices skyrocketing on Thursday - Sprague Energy

> Oil rose sharply on September 17 after OPEC+ members reaffirmed full compliance with output cuts and the joint committee recommended extending the compensation package to December. October WTI settled at $40.97 and November Brent at $43.30.

- Date: 2020-09-18 · published 2020-09-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/51293-opec-s-regularly-scheduled-monthly-joint-committee-meeting-sent-oil-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The OPEC+ commitment to supply discipline reduces the risk of a supply glut, supporting crude and fuel prices that feed into input and freight costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-11-04 | [OPEC+ Meeting Ends: Cartel Won't Produce Extra Crude \| OilPrice.com](https://feedsoft.ai/events/43986-opec-meeting-ends-cartel-won-t-produce-extra-crude-oilprice-com.md) | +0.5% | -17.6% |
| WTI | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -8.8% | -5.4% |
| WTI | 2017-01-23 | [OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption \| Naija247news](https://feedsoft.ai/events/72918-opec-joint-ministerial-monitoring-committee-concludes-inaugural-meeting.md) | +1.6% | +2.0% |
| WTI | 2017-01-23 | [OPEC committee agrees on monitoring output measures](https://feedsoft.ai/events/72913-opec-committee-agrees-on-monitoring-output-measures.md) | +1.6% | +2.0% |
| WTI | 2018-03-29 | [Oil prices gain on expectation of continued Opec supply curbs in 2018 \| The National](https://feedsoft.ai/events/66167-oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-the.md) | -1.2% | +6.0% |
| BRENT | 2021-11-04 | [OPEC+ Meeting Ends: Cartel Won't Produce Extra Crude \| OilPrice.com](https://feedsoft.ai/events/43986-opec-meeting-ends-cartel-won-t-produce-extra-crude-oilprice-com.md) | +1.5% | -15.1% |
| BRENT | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -9.8% | -5.2% |
| BRENT | 2017-01-23 | [OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption \| Naija247news](https://feedsoft.ai/events/72918-opec-joint-ministerial-monitoring-committee-concludes-inaugural-meeting.md) | -0.2% | -0.2% |

## Sources

- spragueenergy.com: https://www.spragueenergy.com/opecs-regularly-scheduled-monthly-joint-committee-meeting-sent-oil-prices-skyrocketing-on-thursday/

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