# OPEC - OPEC and non-OPEC Ministerial Meeting - Europétrole

> OPEC and non-OPEC ministers met on December 10 at the OPEC Secretariat in Vienna, co-chaired by Qatar and Russia. The meeting confirmed a 1.2 million bpd production adjustment effective January 1, 2017, and recorded that Azerbaijan, Bahrain, Kazakhstan, Mexico, Oman, Russia, Sudan and others wish to support market stability.

- Date: 2016-12-12 · published 2016-12-12T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/73377-opec-opec-and-non-opec-ministerial-meeting-europetrole
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Non-OPEC participation widens the supply cut beyond OPEC members, which tightens the crude balance and supports prices for oil-linked costs in feed and biofuel markets.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-03-07 | [OPEC - The 6th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/60015-opec-the-6th-opec-and-non-opec-ministerial-europetrole.md) | +3.6% | +11.1% |
| 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 | 2016-12-11 | [OPEC, Non-OPEC Ministers Meet](https://feedsoft.ai/events/73392-opec-non-opec-ministers-meet.md) | +0.8% | -1.3% |
| 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 | 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 | 2019-03-07 | [OPEC - The 6th OPEC and non-OPEC Ministerial... - Europétrole](https://feedsoft.ai/events/60015-opec-the-6th-opec-and-non-opec-ministerial-europetrole.md) | +2.3% | +6.2% |
| 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% |
| BRENT | 2016-12-11 | [OPEC, Non-OPEC Ministers Meet](https://feedsoft.ai/events/73392-opec-non-opec-ministers-meet.md) | +2.7% | +0.3% |

## Sources

- euro-petrole.com: https://www.euro-petrole.com/opec-and-non-opec-ministerial-meeting-n-i-14037

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