ALGIERS (Pakistan Point News / Sputnik - 23rd September, 2018) The Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) is not going to discuss the increase in oil production during Sunday's meeting in Algiers, Kuwait's Oil Minister Bakheet Rashidi told Sputnik.
"No, we are talking about reading the numbers to see the market behaviors in the last three months. Based on the numbers and the conformity of the members we will ensure that the market has enough oil to ensure stability," Rashidi said when asked if the JMMC may discuss the increase in OPEC-non-OPEC production beyond one million barrels a day as greed in June.
Rashidi added that the committee was still deciding which functions might be included in the committee's potentially expanded mandate in 2019.
"So far, the JMMC will continue, we are looking for some kind of platform to ensure coordination between OPEC, non-OPEC in the coming year. We are still discussing it," the minister added.
