# OPEC committee agrees on monitoring output measures

> The Joint OPEC and non-OPEC Ministerial Monitoring Committee held its inaugural meeting in Vienna and agreed on measures to ensure production cuts. The OPEC secretariat will provide a monthly production report to the committee by the 17th of each month.

- Date: 2017-01-23 · published 2017-01-23T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72913-opec-committee-agrees-on-monitoring-output-measures
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Monthly production monitoring increases the chance that cuts are enforced, which supports crude prices over the first half of 2017.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-30 | [Oil prices swing as OPEC+ agrees on additional output cuts](https://feedsoft.ai/events/33335-oil-prices-swing-as-opec-agrees-on-additional-output-cuts.md) | -11.0% | -7.4% |
| WTI | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.5% | +4.7% |
| WTI | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | -0.2% | +4.2% |
| WTI | 2022-10-01 | [Oil up nearly 3% as OPEC+ agrees to small oil output cut](https://feedsoft.ai/events/39515-oil-up-nearly-3-as-opec-agrees-to-small-oil-output-cut.md) | +16.5% | +10.2% |
| WTI | 2017-01-23 | [OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption \| Naija247news](https://feedsoft.ai/events/72918-opec-joint-ministerial-monitoring-committee-concludes-inaugural-meeting.md) | +1.6% | +2.0% |
| BRENT | 2023-11-30 | [Oil prices swing as OPEC+ agrees on additional output cuts](https://feedsoft.ai/events/33335-oil-prices-swing-as-opec-agrees-on-additional-output-cuts.md) | -10.5% | -5.2% |
| BRENT | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.7% | +7.4% |
| BRENT | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | +1.6% | +4.5% |

## Sources

- aa.com.tr: https://www.aa.com.tr/en/energy/oil/opec-committee-agrees-on-monitoring-output-measures/3965

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