# OPEC, Non-OPEC Ministers Meet

> OPEC and non-OPEC ministers met on December 10 in Vienna to follow up the November 30 Vienna Agreement. The meeting noted a 1.2 million bpd production adjustment effective January 1, 2017, and recognized non-OPEC producers' desire to support oil market stability.

- Date: 2016-12-11 · published 2016-12-11T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/73392-opec-non-opec-ministers-meet
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Non-OPEC backing for the output cut increases the amount of supply withdrawn from the market, which supports crude prices and the cost of energy inputs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 Statement](https://feedsoft.ai/events/29651-37th-opec-and-non-opec-ministerial-meeting-statement.md) | -1.9% | +8.5% |
| 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 | 2024-12-05 | [38th OPEC+ Ministerial Meeting Concludes - Shana](https://feedsoft.ai/events/26874-38th-opec-ministerial-meeting-concludes-shana.md) | +2.6% | +8.3% |
| WTI | 2024-04-03 | [OPEC+ ministers keep oil output policy steady \| Arab News](https://feedsoft.ai/events/30645-opec-ministers-keep-oil-output-policy-steady-arab-news.md) | +0.1% | -3.2% |
| BRENT | 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) | +2.7% | +0.3% |
| 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 | 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% |

## Sources

- worldenergynews.com: https://www.worldenergynews.com/news/opec-non-opec-ministers-meet-654794

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