# OPEC and Non-OPEC Crude Oil Production Agreement: Compliance Status - EveryCRSReport.com

> A Congressional Research Service report summarizes the status of the OPEC and non-OPEC production agreement, which calls for cuts of about 1.7 million bpd and runs through December 2018. It also reviews the history of OPEC and proposed NOPEC legislation.

- Date: 2018-04-26 · published 2018-04-26T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/65424-opec-and-non-opec-crude-oil-production-agreement-compliance-status
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The agreement remains in force through 2018, so it continues to restrict crude supply and support prices. The report is background and does not add a new supply change.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-18 | [OPEC publishes oil production cuts by Vienna agreement states  ABC.AZ](https://feedsoft.ai/events/60999-opec-publishes-oil-production-cuts-by-vienna-agreement-states-abc-az.md) | +2.1% | +4.8% |
| WTI | 2018-12-07 | [OPEC and allies agree to cut oil production](https://feedsoft.ai/events/10629-opec-and-allies-agree-to-cut-oil-production.md) | +2.2% | -6.2% |
| WTI | 2017-03-06 | [OPEC not entirely in compliance with production deal - UPI.com](https://feedsoft.ai/events/71902-opec-not-entirely-in-compliance-with-production-deal-upi-com.md) | -9.6% | -5.2% |
| WTI | 2024-05-02 | [Oil alliance OPEC+ extends collective crude production cuts into 2025](https://feedsoft.ai/events/29653-oil-alliance-opec-extends-collective-crude-production-cuts-into-2025.md) | -0.1% | -1.9% |
| WTI | 2020-09-17 | [Oil reverses losses to gain 2% as OPEC urges compliance with production cuts](https://feedsoft.ai/events/51278-oil-reverses-losses-to-gain-2-as-opec-urges-compliance-with-production-cuts.md) | -0.6% | +1.9% |
| BRENT | 2019-01-18 | [OPEC publishes oil production cuts by Vienna agreement states  ABC.AZ](https://feedsoft.ai/events/60999-opec-publishes-oil-production-cuts-by-vienna-agreement-states-abc-az.md) | +1.0% | +6.2% |
| BRENT | 2018-12-07 | [OPEC and allies agree to cut oil production](https://feedsoft.ai/events/10629-opec-and-allies-agree-to-cut-oil-production.md) | +2.2% | -2.9% |
| BRENT | 2017-03-06 | [OPEC not entirely in compliance with production deal - UPI.com](https://feedsoft.ai/events/71902-opec-not-entirely-in-compliance-with-production-deal-upi-com.md) | -7.3% | -4.5% |

## Sources

- everycrsreport.com: https://www.everycrsreport.com/reports/IN10892.html

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