# Where OPEC+ Oil Production Stands Now

> Bloomberg calculations show OPEC+ members reset their agreement terms as of January 1. Half of the 10 participating OPEC countries conformed to supply cuts in January, and the overall coalition compliance rate was 119%.

- Date: 2020-02-25 · published 2020-02-25T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/54527-where-opec-oil-production-stands-now
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Over-compliance means the announced cuts may deliver less tightening than headline volumes suggest, which limits upward pressure on crude and the fuel costs that feed to logistics.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-08-10 | [OPEC Boosts Oil-Demand Outlook While Its Production Rises - Bloomberg](https://feedsoft.ai/events/69362-opec-boosts-oil-demand-outlook-while-its-production-rises-bloomberg.md) | -5.6% | -1.0% |
| WTI | 2024-02-15 | [Oil demand growth slowing as non-OPEC supply expands, says IEA \| Reuters](https://feedsoft.ai/events/31840-oil-demand-growth-slowing-as-non-opec-supply-expands-says-iea-reuters.md) | +3.1% | +6.4% |
| WTI | 2018-01-31 | [Oil rebounds, ends up on gasoline demand, OPEC compliance](https://feedsoft.ai/events/67146-oil-rebounds-ends-up-on-gasoline-demand-opec-compliance.md) | -1.8% | -4.8% |
| WTI | 2024-02-01 | [EIA: U.S. crude stockpiles rise, products draw on low refining rates](https://feedsoft.ai/events/31856-eia-u-s-crude-stockpiles-rise-products-draw-on-low-refining-rates.md) | -2.6% | +3.6% |
| WTI | 2024-01-03 | [OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg](https://feedsoft.ai/events/32039-opec-s-crude-oil-output-steady-in-december-before-new-supply-cuts-bloomberg.md) | +2.6% | +7.9% |
| BRENT | 2017-08-10 | [OPEC Boosts Oil-Demand Outlook While Its Production Rises - Bloomberg](https://feedsoft.ai/events/69362-opec-boosts-oil-demand-outlook-while-its-production-rises-bloomberg.md) | -4.0% | +3.6% |
| BRENT | 2022-11-01 | [OPEC Oil Production Steady Last Month After Group Pledged Symbolic Cut - Bloomberg](https://feedsoft.ai/events/38588-opec-oil-production-steady-last-month-after-group-pledged-symbolic-cut-bloomberg.md) | +5.1% | -11.4% |
| BRENT | 2018-01-03 | [OPEC Holds Production Steady as Compliance Exceeds Promised Cuts - Bloomberg](https://feedsoft.ai/events/66897-opec-holds-production-steady-as-compliance-exceeds-promised-cuts-bloomberg.md) | +3.5% | +2.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/graphics/opec-production-targets/

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