# OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption | Naija247news

> The Joint OPEC-non-OPEC Ministerial Monitoring Committee concluded its inaugural meeting in Vienna on January 23, 2017. The declaration took effect January 1 for six months and can be extended by another six months depending on market conditions.

- Date: 2017-01-23 · published 2017-01-23T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72918-opec-joint-ministerial-monitoring-committee-concludes-inaugural-meeting
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A committee with a formal review structure supports compliance with the 1.8 million bpd combined cut, which is supportive for crude prices.

## 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 | 2017-01-23 | [OPEC committee agrees on monitoring output measures](https://feedsoft.ai/events/72913-opec-committee-agrees-on-monitoring-output-measures.md) | +1.6% | +2.0% |
| 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% |
| 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  extends level of overall crude oil production until end of 2025 \| Emirates News Agency](https://feedsoft.ai/events/29652-37th-opec-and-non-opec-ministerial-meeting-extends-level-of-overall-crude-oil.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 | 2017-01-23 | [OPEC committee agrees on monitoring output measures](https://feedsoft.ai/events/72913-opec-committee-agrees-on-monitoring-output-measures.md) | -0.2% | -0.2% |
| BRENT | 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) | -2.0% | +7.9% |

## Sources

- naija247news.com: https://naija247news.com/opec-joint-ministerial-monitoring-committee-concludes-inaugural-meeting/

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