Declaration of Cooperation
The Declaration of Cooperation (DoC) is the 2016 framework agreement between OPEC members and non-OPEC producers (led by Russia) that created the OPEC+ alliance and established the joint output-management mechanism.
Last refreshed: 15 June 2026 · Appears in 1 active topic
Why does OPEC+'s production gap against its own target determine the Brent curve?
Timeline for Declaration of Cooperation
Mentioned in: Two sanctions clocks pull opposite ways
European Oil MarketsLogged a required crude call of 42.5mbd in the June MOMR
European Oil Markets: EIA and OPEC both cut 2026 demand- What is the OPEC Declaration of Cooperation and who are its members?
- The Declaration of Cooperation is the founding agreement of the OPEC+ alliance, signed in December 2016 in Vienna. It covers all 13 OPEC members plus 10 non-OPEC producers including Russia, Kazakhstan, and the UAE, coordinating voluntary crude oil production cuts to balance global markets.Source: OPEC Secretariat
- What does 'required crude from Declaration of Cooperation producers' mean in OPEC reports?
- The 'required crude' or 'call on DoC producers' is the OPEC Secretariat's estimate of how much oil OPEC+ members need to supply for the market to be in balance. In June 2026 it was 42.5mbd, compared to actual output of 33.13mbd.Source: OPEC MOMR June 2026
- Is the OPEC+ Declaration of Cooperation legally binding?
- No. The DoC is a voluntary framework with no legal enforcement mechanism. Compliance depends on diplomatic and reputational pressure within the JMMC monitoring process. Members have historically exceeded their quotas without legal consequence, though overproduction strains the political consensus.Source: OPEC Secretariat
- How does the OPEC+ production gap affect oil prices?
- When OPEC+ output is significantly below the 'required crude' call, the market infers tighter-than-needed supply, which sustains backwardation and the front-month price. In June 2026, the gap between 42.5mbd required and 33.13mbd actual contributed to backwardation holding even as the flat price fell on softer demand forecasts.Source: Lowdown european-oil-markets briefing
Background
The Declaration of Cooperation (DoC) is the founding document of the OPEC+ alliance, signed in December 2016 at the Vienna headquarters of the OPEC Secretariat between the 13 OPEC members and 10 non-OPEC producers led by Russia. The DoC established a voluntary framework for coordinating crude oil production levels with the aim of stabilising markets and reducing the global surplus that had depressed prices since 2014. It has since been renewed and expanded through successive ministerial meetings, with the June 2023 Riyadh extension adding voluntary individual cuts of 1.66mbd by several members on top of the group's base quota. The OPEC MOMR refers to DoC members' output and the 'call on DoC producers' as the market-balancing arithmetic: in June 2026, required crude from DoC members was placed at 42.5mbd against actual output of 33.13mbd .
The DoC operates by consensus rather than binding treaty. Each member retains sovereignty over its own production decisions, and the framework lacks enforcement mechanisms beyond the reputational and diplomatic cost of non-compliance. Monitoring is handled by the Joint Ministerial Monitoring Committee (JMMC), which meets monthly and reports to the plenary ministerial meeting. Secondary-source production data from OPEC's MOMR, Argus, and Platts are used to assess compliance because several members do not provide self-reported output figures to the Secretariat.
The gap between DoC required crude and actual output is the central market-intelligence variable for supply analysts. When DoC output significantly exceeds the call (overproduction), it signals potential quota cheating and bearish supply; when it falls below (underproduction), it indicates tighter-than-quota compliance and bullish tightening. In June 2026, the gap between 42.5mbd required and 33.13mbd actual reflects both the scale of voluntary cuts and the group's collective strategy of keeping supply below the structural demand floor to sustain backwardation.
