On 2016-11-30, OPEC reached the so-called Vienna Agreement to cut production by 1.2 million barrels per day starting in January 2017. The deal aimed to reduce a global oil glut and stabilize prices after a long downturn. It also set the stage for seeking coordinated action from major producers outside OPEC.
On 2016-12-10, OPEC and 11 non-OPEC producers agreed to cooperate on output adjustments under a formal “Declaration of Cooperation” (DoC). The non-OPEC group—including Russia, Kazakhstan, Mexico, and Oman—set a combined reduction target of 558,000 barrels per day starting in January 2017. This created the core structure later known as “OPEC+,” linking OPEC policy to major outside producers.
The 2016 DoC included a plan for joint monitoring of compliance, with non-OPEC countries joining a ministerial monitoring committee. This mattered because it turned a one-time agreement into an ongoing process with regular reviews and shared data. The monitoring structure helped OPEC and its partners coordinate adjustments and manage disagreements as market conditions changed.
On 2017-05-25, OPEC and cooperating non-OPEC producers agreed to extend their output cuts for nine months, through March 2018. The extension signaled that the group saw rebalancing as a longer task, not a quick fix. It also kept the new OPEC–non-OPEC partnership active beyond its initial six-month window.
On 2017-11-30, OPEC and Russia agreed to keep production cuts in place through the end of 2018. This decision reinforced the idea that Russia and other non-OPEC producers were now central to supply management. It also showed how the partnership was becoming a recurring feature of oil-market policy, not an emergency measure.
On 2018-06-22, OPEC members agreed to return to “100% compliance” with the 2016 deal starting July 1, 2018—effectively allowing higher output because earlier disruptions had pushed cuts beyond target. This shift showed that OPEC+ was not only about cutting, but also about adjusting supply up or down as conditions changed. It was an early test of whether the group could coordinate policy during rising prices and consumer pressure.
On 2018-12-07, OPEC and cooperating non-OPEC producers (including Russia) agreed to reduce output by 1.2 million barrels per day starting January 1, 2019. The deal used October 2018 output as a baseline and included exemptions for some countries. It demonstrated the continued use of a shared OPEC–non-OPEC framework to respond to falling prices and growing supply.
Alongside the 2019 charter, OPEC and non-OPEC partners agreed to extend existing output curbs for about nine months, into the first quarter of 2020. This extension showed continued shared commitment to balancing supply as U.S. production growth and economic uncertainty affected prices. It also set the conditions for how the group would enter the COVID-19 shock in early 2020.
On 2019-07-02, OPEC and non-OPEC partners adopted a “Charter of Cooperation” to formalize long-term collaboration under the OPEC+ framework. The charter mattered because it aimed to make coordination more predictable and durable, rather than relying on ad hoc deals. It reflected how the OPEC+ model had become a major tool for managing global oil supply.
On 2020-03-06, OPEC+ negotiations in Vienna ended without an agreement on deeper cuts as COVID-19 began sharply reducing oil demand. With no deal, existing quotas were set to expire at the end of March, raising the risk of higher production and lower prices. The breakdown exposed how fragile cooperation could be when key partners disagreed on strategy.
On 2020-04-12, OPEC+ finalized a historic deal to cut production by 9.7 million barrels per day, with cuts starting May 1, 2020. The agreement followed a sharp demand collapse during the COVID-19 pandemic and aimed to limit the market oversupply. It showed that, even after a breakdown, the OPEC+ structure could be reactivated for large coordinated action.
On 2020-05-01, the agreed OPEC+ cuts took effect, marking the operational start of the largest coordinated output reduction in the alliance’s history. This implementation turned the April agreement from a statement into measurable policy and set a new benchmark for producer cooperation. By 2020, OPEC+ had evolved from a 2016 crisis pact into a standing coalition capable of major market interventions.
Formation of OPEC+ and Cooperative Deals with Non‑OPEC Producers (2016–2020)