OPEC+ Joint Ministerial Monitoring Committee to Meet Remotely on Wednesday
The Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ alliance will hold a meeting via video conference on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 01st February, 2023) The Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ alliance will hold a meeting via video conference on Wednesday.
If consensus is reached, the JMMC may make a recommendation on a further oil production plan and, if necessary, convene a general alliance meeting.
The JMMC is reportedly likely to recommend that oil production levels remain unchanged amid a temporary recovery in global demand and uncertainty around sanctions against Russia.
The committee includes eight out of the 23 members of OPEC+, namely Russia, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Algeria, Venezuela and Kazakhstan.
The OPEC+ Joint Technical Committee meeting, scheduled for January 31, has been canceled, reportedly due to the absence of relevant issues to discuss.