# OPEC's Rebalancing Act

> An IMF blog summarizes the OPEC deal of November 30, 2016, which cut OPEC output by 1.2 mbd to 32.5 mbd and non-OPEC output by about 600,000 bpd. It reports compliance near 90 percent in January, with Russia having cut only part of its pledge.

- Date: 2017-03-15 · published 2017-03-15T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/71899-opec-s-rebalancing-act
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Partial compliance and rising output from exempt members such as Libya and Nigeria limit how much the cut can support crude prices, which indirectly affects energy and freight costs for feed buyers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-05-31 | [Today.Az - OPEC supply rebalancing continues to be the primary](https://feedsoft.ai/events/64943-today-az-opec-supply-rebalancing-continues-to-be-the-primary.md) | -5.1% | +11.1% |
| WTI | 2024-05-31 | [What goes into OPEC’s decision-making?](https://feedsoft.ai/events/30160-what-goes-into-opec-s-decision-making.md) | -3.1% | +4.8% |
| WTI | 2025-05-28 | [39th OPEC and non-OPEC Ministerial Meeting](https://feedsoft.ai/events/24600-39th-opec-and-non-opec-ministerial-meeting.md) | +4.1% | +6.9% |
| WTI | 2024-10-02 | [OPEC+ Makes No Changes to Plans for Reviving Oil Production \| Financial Post](https://feedsoft.ai/events/27769-opec-makes-no-changes-to-plans-for-reviving-oil-production-financial-post.md) | +5.4% | -4.0% |
| WTI | 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) | -0.2% | -5.5% |
| BRENT | 2018-05-31 | [Today.Az - OPEC supply rebalancing continues to be the primary](https://feedsoft.ai/events/64943-today-az-opec-supply-rebalancing-continues-to-be-the-primary.md) | -3.1% | +0.2% |
| BRENT | 2019-12-01 | [Five things to watch at this week’s Opec meeting](https://feedsoft.ai/events/55741-five-things-to-watch-at-this-week-s-opec-meeting.md) | +3.1% | +7.7% |
| BRENT | 2024-05-31 | [What goes into OPEC’s decision-making?](https://feedsoft.ai/events/30160-what-goes-into-opec-s-decision-making.md) | -3.6% | +6.2% |

## Sources

- imf.org: https://www.imf.org/en/blogs/articles/2017/03/15/opecs-rebalancing-act

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