# OPEC reports 159% oil output conformity level in July

> OPEC's Joint Ministerial Monitoring Committee reported an overall conformity level of 159% to the oil cut pact in July, up 22% from June. The committee said forecasts for oil market fundamentals remain robust for 2019 and 2020. It urged all participants to keep full compliance with voluntary cuts.

- Date: 2019-08-27 · published 2019-08-27T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/57503-opec-reports-159-oil-output-conformity-level-in-july
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Strong compliance with cuts tightens supply and supports crude prices, which helps keep diesel and energy input costs elevated for feed mills and grain transport. The outlook for stable fundamentals signals limited near-term downside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-10-31 | [OPEC oil output falls in October led by drop in Iraqi exports](https://feedsoft.ai/events/68377-opec-oil-output-falls-in-october-led-by-drop-in-iraqi-exports.md) | +5.9% | +7.1% |
| WTI | 2018-04-25 | [OPEC deal: Members, non-members achieve 149% conformity level - The Nation Newspaper](https://feedsoft.ai/events/65428-opec-deal-members-non-members-achieve-149-conformity-level-the-nation-newspaper.md) | -0.6% | +6.5% |
| WTI | 2021-11-04 | [OPEC+ rebuffs U.S. calls for speedier oil output increases](https://feedsoft.ai/events/43981-opec-rebuffs-u-s-calls-for-speedier-oil-output-increases.md) | +0.5% | -17.6% |
| WTI | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -2.2% | -1.6% |
| WTI | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.2% | +7.8% |
| BRENT | 2017-10-31 | [OPEC oil output falls in October led by drop in Iraqi exports](https://feedsoft.ai/events/68377-opec-oil-output-falls-in-october-led-by-drop-in-iraqi-exports.md) | +5.8% | +4.6% |
| BRENT | 2018-04-25 | [OPEC deal: Members, non-members achieve 149% conformity level - The Nation Newspaper](https://feedsoft.ai/events/65428-opec-deal-members-non-members-achieve-149-conformity-level-the-nation-newspaper.md) | +0.2% | +6.9% |
| BRENT | 2021-11-04 | [OPEC+ rebuffs U.S. calls for speedier oil output increases](https://feedsoft.ai/events/43981-opec-rebuffs-u-s-calls-for-speedier-oil-output-increases.md) | +1.5% | -15.1% |

## Sources

- aa.com.tr: https://www.aa.com.tr/en/energy/international-organization/opec-reports-159-oil-output-conformity-level-in-july/26402

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