All OPEC+ deal underperformers have presented their compensation plans at the meeting of the Joint Ministerial Monitoring Committee (JMMC), Russian Energy Minister Alexander Novak said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 24th June, 2020) All OPEC+ deal underperformers have presented their compensation plans at the meeting of the Joint Ministerial Monitoring Committee (JMMC), Russian Energy Minister Alexander Novak said on Wednesday.
"We will ask the OPEC secretariat to specify. Those countries, discussed at the JMMC, which considerably underperformed, they have presented everything," Novak told reporters when asked if all countries that had underperformed in May had provided compensation plans.
He has also noted that the plans are not for the JMMC approval and simply signify the countries' commitment to the deal.
"Actually, we do not have such approval procedure. It is simply information provided to demonstrate a commitment to fulfilling the deal and agreement," he added.
