# Coronavirus: OPEC's JTC Recommends Extending Production Adjustments To End 2020 | Energy News Africa

> OPEC's Joint Technical Committee recommended extending voluntary production adjustments under the Declaration of Cooperation until the end of 2020. It also recommended a further adjustment through the end of Q2 2020, citing coronavirus damage to oil demand. The OPEC conference president said he would pursue consensus among members.

- Date: 2020-02-16 · published 2020-02-16T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/54532-coronavirus-opec-s-jtc-recommends-extending-production-adjustments-to-end-2020
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A recommended extension through 2020 and a Q2 deepening would tighten crude supply, supporting fuel and biofuel-linked feed input costs, though final approval is still pending.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-07-03 | [OPEC, non-OPEC members decide on extending production cuts up to March 2020, ETEnergyworld](https://feedsoft.ai/events/58010-opec-non-opec-members-decide-on-extending-production-cuts-up-to-march-2020.md) | +7.6% | +4.4% |
| 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% |
| WTI | 2019-01-18 | [OPEC reveals new voluntary production adjustments TABLE](https://feedsoft.ai/events/60998-opec-reveals-new-voluntary-production-adjustments-table.md) | +2.1% | +4.8% |
| WTI | 2024-02-28 | [OPEC+ Extends Oil Cuts Amid Global Supply Crunch - Energy News Africa Plus](https://feedsoft.ai/events/31861-opec-extends-oil-cuts-amid-global-supply-crunch-energy-news-africa-plus.md) | -0.9% | +3.3% |
| WTI | 2020-02-09 | [Opec+ technical committee recommends extending cuts until year-end \| The National](https://feedsoft.ai/events/54529-opec-technical-committee-recommends-extending-cuts-until-year-end-the-national.md) | +3.4% | -38.3% |
| BRENT | 2019-07-03 | [OPEC, non-OPEC members decide on extending production cuts up to March 2020, ETEnergyworld](https://feedsoft.ai/events/58010-opec-non-opec-members-decide-on-extending-production-cuts-up-to-march-2020.md) | +2.7% | +1.7% |
| BRENT | 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) | +0.6% | +4.3% |
| BRENT | 2019-01-18 | [OPEC reveals new voluntary production adjustments TABLE](https://feedsoft.ai/events/60998-opec-reveals-new-voluntary-production-adjustments-table.md) | +1.0% | +6.2% |

## Sources

- energynewsafrica.com: https://energynewsafrica.com/coronavirus-opecs-jtc-recommends-extending-production-adjustments-to-end-2020/

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