# Oil cut deal now at 98% compliance level, says OPEC | TheCable

> OPEC's Joint Monitoring Committee reported that the OPEC and non-OPEC cut deal reached 98 percent compliance in March, up 4 points from February. The committee urged members to reach full conformity, and the deal runs for six months from January 1 with an option to extend for another six months.

- Date: 2017-04-28 · published 2017-04-28T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/71422-oil-cut-deal-now-at-98-compliance-level-says-opec-thecable
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

High compliance means the supply cut is being delivered, which tightens the market and supports crude prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-11-01 | [Brent oil near two-year highs as OPEC's compliance with cuts improves](https://feedsoft.ai/events/68143-brent-oil-near-two-year-highs-as-opec-s-compliance-with-cuts-improves.md) | +4.3% | +3.6% |
| 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% |
| BRENT | 2016-12-01 | [OPEC reaches first deal to cut oil output since 2008](https://feedsoft.ai/events/9701-opec-reaches-first-deal-to-cut-oil-output-since-2008.md) | +6.6% | +12.9% |
| BRENT | 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) | -0.7% | +2.0% |
| BRENT | 2017-02-24 | [Combined Compliance For OPEC, Non-OPEC Hits 86% \| OilPrice.com](https://feedsoft.ai/events/72410-combined-compliance-for-opec-non-opec-hits-86-oilprice-com.md) | -2.8% | -10.4% |
| WTI | 2017-11-01 | [Brent oil near two-year highs as OPEC's compliance with cuts improves](https://feedsoft.ai/events/68143-brent-oil-near-two-year-highs-as-opec-s-compliance-with-cuts-improves.md) | +5.2% | +5.3% |
| 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 | 2016-12-01 | [OPEC reaches first deal to cut oil output since 2008](https://feedsoft.ai/events/9701-opec-reaches-first-deal-to-cut-oil-output-since-2008.md) | +0.8% | +8.8% |

## Sources

- thecable.ng: https://www.thecable.ng/oil-cut-deal-now-98-compliance-level-says-opec/

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