A meeting of the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) before April has not been discussed, Russian Energy Minister Alexander Novak said on Friday
MOSCOW (Pakistan Point News / Sputnik - 11th January, 2019) A meeting of the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) before April has not been discussed, Russian Energy Minister Alexander Novak said on Friday."We had a preliminary discussion in December where we planned the meeting for April. We agreed to meet at an earlier date if needed, but we have not discussed meeting earlier yet," he told reporters.
The JMMC was set up by Algeria, Kuwait, Oman, Russia, Saudi Arabia and Venezuela to monitor compliance with oil output cuts after they were first agreed in late 2016.
The group of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil exporters committed last December to slash production by a total 1.2 million barrels a day for six months starting this January. Russia will pull a daily 228,000 barrels from the market.
