# OPEC : OPEC 172nd Meeting concludes

> OPEC's 172nd Conference in Vienna on 25 May 2017 approved Equatorial Guinea's admission to the organization and reviewed the Secretary General's report and the monitoring committees' findings on compliance with the voluntary production cuts. The meeting also welcomed new oil ministers in Ecuador, Gabon, Kuwait and Venezuela.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70927-opec-opec-172nd-meeting-concludes
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The formal review confirmed that the output-cut framework remained in place, which supports crude prices by limiting supply. Membership changes add little direct supply, so the price effect rests mainly on compliance with the cuts.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-12-05 | [38th OPEC+ Ministerial Meeting Concludes - Shana](https://feedsoft.ai/events/26874-38th-opec-ministerial-meeting-concludes-shana.md) | +2.6% | +8.3% |
| WTI | 2016-12-01 | [OPEC meeting in Vienna concludes \| Hydrocarbon Engineering](https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering.md) | +0.8% | +8.8% |
| WTI | 2020-06-03 | [Oil Rally Hinges on Next OPEC Meeting \| Rigzone](https://feedsoft.ai/events/52787-oil-rally-hinges-on-next-opec-meeting-rigzone.md) | +5.7% | +6.5% |
| WTI | 2016-12-12 | [OPEC - OPEC and non-OPEC Ministerial Meeting - Europétrole](https://feedsoft.ai/events/73377-opec-opec-and-non-opec-ministerial-meeting-europetrole.md) | +0.8% | -1.3% |
| WTI | 2024-06-02 | [37th OPEC and non-OPEC Ministerial Meeting Statement](https://feedsoft.ai/events/29651-37th-opec-and-non-opec-ministerial-meeting-statement.md) | -1.9% | +8.5% |
| BRENT | 2024-12-05 | [38th OPEC+ Ministerial Meeting Concludes - Shana](https://feedsoft.ai/events/26874-38th-opec-ministerial-meeting-concludes-shana.md) | +0.6% | +4.3% |
| BRENT | 2016-12-01 | [OPEC meeting in Vienna concludes \| Hydrocarbon Engineering](https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering.md) | +6.6% | +12.9% |
| BRENT | 2020-06-03 | [Oil Rally Hinges on Next OPEC Meeting \| Rigzone](https://feedsoft.ai/events/52787-oil-rally-hinges-on-next-opec-meeting-rigzone.md) | +5.6% | +7.1% |

## Sources

- web.archive.org: https://web.archive.org/web/20170527214657/http:/www.opec.org/opec_web/en/press_room/4305.htm

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