# OPEC meeting in Vienna concludes | Hydrocarbon Engineering

> OPEC's 171st Conference was held in Vienna on November 30, 2016, chaired by Qatar's energy minister. Indonesia's new energy minister attended his first meeting, and the conference reviewed the High-Level Committee report from the Algiers Accord and the oil market outlook.

- Date: 2016-12-01 · published 2016-12-01T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The conference set the production policy that followed, so it is the source of the supply cut that lifted crude prices. Markets treat it as a shift in OPEC's supply management.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-05-25 | [OPEC : OPEC 172nd Meeting concludes](https://feedsoft.ai/events/70927-opec-opec-172nd-meeting-concludes.md) | -5.4% | -16.7% |
| 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 | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -5.4% | -16.7% |
| WTI | 2019-11-30 | [OPEC Oil Output Slips Before Vienna Meeting](https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting.md) | +3.6% | +8.1% |
| 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 | 2017-05-25 | [OPEC : OPEC 172nd Meeting concludes](https://feedsoft.ai/events/70927-opec-opec-172nd-meeting-concludes.md) | -7.0% | -16.6% |
| 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 | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -7.0% | -16.6% |

## Sources

- hydrocarbonengineering.com: https://www.hydrocarbonengineering.com/refining/01122016/opec-meeting-in-vienna-concludes/

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