# OPEC negotiates oil cut with non-members | The Economic Times

> OPEC Secretary-General Mohammed Barkindo said OPEC and non-OPEC members are working to formalize their cooperation. He said the aim is to stabilize oil prices, and the joint cut of 1.8 million barrels per day runs for nine months from July 2017.

- Date: 2017-06-05 · published 2017-06-05T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/70398-opec-negotiates-oil-cut-with-non-members-the-economic-times
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A formal OPEC-non-OPEC framework could support crude prices over the longer term. Stable energy prices help cap costs for feed producers and their suppliers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-02-13 | [OPEC Pact Exit Could Take Months Of Negotiation \| OilPrice.com](https://feedsoft.ai/events/66428-opec-pact-exit-could-take-months-of-negotiation-oilprice-com.md) | +4.0% | +3.8% |
| BRENT | 2021-02-03 | [Opec+ JMMC ends with no recommendation \| Latest Market News](https://feedsoft.ai/events/48550-opec-jmmc-ends-with-no-recommendation-latest-market-news.md) | +5.9% | +9.4% |
| BRENT | 2020-12-03 | [OPEC, Russia to nudge up oil output after hit from pandemic \| The Seattle Times](https://feedsoft.ai/events/49559-opec-russia-to-nudge-up-oil-output-after-hit-from-pandemic-the-seattle-times.md) | +1.7% | +7.3% |
| BRENT | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +1.9% |
| BRENT | 2026-01-04 | [OPEC+ keeps oil output steady amid turmoil among members \| Reuters](https://feedsoft.ai/events/20967-opec-keeps-oil-output-steady-amid-turmoil-among-members-reuters.md) | +4.7% | +16.5% |
| WTI | 2018-02-13 | [OPEC Pact Exit Could Take Months Of Negotiation \| OilPrice.com](https://feedsoft.ai/events/66428-opec-pact-exit-could-take-months-of-negotiation-oilprice-com.md) | +4.3% | +2.2% |
| WTI | 2021-02-03 | [Opec+ JMMC ends with no recommendation \| Latest Market News](https://feedsoft.ai/events/48550-opec-jmmc-ends-with-no-recommendation-latest-market-news.md) | +6.5% | +12.0% |
| WTI | 2020-12-03 | [OPEC, Russia to nudge up oil output after hit from pandemic \| The Seattle Times](https://feedsoft.ai/events/49559-opec-russia-to-nudge-up-oil-output-after-hit-from-pandemic-the-seattle-times.md) | +0.5% | +7.0% |

## Sources

- theeconomictimes.com.ng: https://theeconomictimes.com.ng/2017/06/05/opec-negotiates-oil-cut-with-non-members/

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