Opec+: 28th meeting of JMMC opens by videoconference

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ALGIERS- The work of the 28th meeting of the Joint Ministerial Committee for Opec and Non-Opec (JMMC) began, on Wednesday, by videoconference with the participation of the Minister of Energy and Mines, Mohamed Arkab.

The meeting is co-chaired by Saudi Minister of Energy Abdelaziz bin Salman and Russian Deputy Prime Minister Alexander Novak with the participation of Angolan Minister of Petroleum and Mineral Resources Diamantino Pedro Azvedo in his capacity as OPEC President, as well as OPEC Secretary General Mohammed Barkindo.

This meeting will be devoted, in particular, to examining the outlook for the oil market in the short term.

The members of the JMMC will assess, on the basis of the report of the Joint Technical Committee, the level of compliance with the production reduction commitments of the countries participating in the Declaration of Cooperation, for the month of February 2021.

The JMMC is made up of seven member countries of the Organization of the Petroleum Exporting Countries (OPEC), namely Algeria, Saudi Arabia, United Arab Emirates, Iraq, Kuwait, Nigeria and Venezuela and from two non-members countries of the Organization, namely; Russia and Kazakhstan.

The JMMC meeting will be followed, today, Thursday, by the 14th OPEC and non-OPEC ministerial meeting.

APS

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