# Saudi Arabia joins OPEC+ ministerial monitoring committee -  Business & Economy - TASS

> Saudi Arabia became co-chair of the Joint Ministerial Monitoring Committee, which oversees the OPEC+ oil production cut deal. Russian Energy Minister Alexander Novak said the committee now has six members and will meet every two or three months. The committee's mandate was extended as part of the Vienna declaration.

- Date: 2017-11-30 · published 2017-11-30T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/67895-saudi-arabia-joins-opec-ministerial-monitoring-committee-business-and-economy
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The monitoring structure signals continued compliance oversight of the supply cuts, which supports the market's expectation of restricted supply. The change itself is procedural and adds little new price impact.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-02-01 | [OPEC+ monitoring has reviewed crude oil production data for November, December 2023 -  Business & Economy - TASS](https://feedsoft.ai/events/31570-opec-monitoring-has-reviewed-crude-oil-production-data-for-november-december.md) | -2.6% | +1.9% |
| BRENT | 2023-07-14 | [OPEC+ monitoring committee to meet Aug 3 to review oil output cuts: delegates \| S&P Global](https://feedsoft.ai/events/34942-opec-monitoring-committee-to-meet-aug-3-to-review-oil-output-cuts-delegates-s.md) | -2.1% | +6.9% |
| BRENT | 2017-08-02 | [OPEC, Saudi Arabia, and Sanctions Update: Connecting the Dots](https://feedsoft.ai/events/69363-opec-saudi-arabia-and-sanctions-update-connecting-the-dots.md) | +0.9% | +0.2% |
| BRENT | 2021-02-19 | [Saudi Arabia and Russia at odds before crucial OPEC meeting](https://feedsoft.ai/events/48552-saudi-arabia-and-russia-at-odds-before-crucial-opec-meeting.md) | +4.3% | -2.1% |
| BRENT | 2024-01-04 | [OPEC reaffirms commitment to market stability, convenes first ministerial meeting of 2024](https://feedsoft.ai/events/32036-opec-reaffirms-commitment-to-market-stability-convenes-first-ministerial.md) | -0.1% | +6.0% |

## Sources

- tass.com: https://tass.com/economy/978484

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