OPEC joint ministerial monitoring committee reviews output data for Jan, Feb
This story was originally published at 12:52 IST on 7 April 2025
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MUMBAI – The Joint Ministerial Monitoring Committee of the the Organization of the Petroleum Exporting Countries and allies on Saturday reviewed the crude oil production data for January and February and noted the overall adherence by member and non-OPEC countries, according to an official statement by the cartel.
"The Committee noted the countries that did not achieve full conformity and compensation and reiterated the critical importance of achieving full conformity and compensation in addition to submitting updated front-loaded compensation plans to the OPEC Secretariat by 15 April 2025," the release said.
The committee also reaffirmed that it will continue to monitor the adherence to the production adjustments agreed earlier. Eight members of OPEC and its allies had agreed to proceed with the gradual unwinding of the voluntary production cuts from Apr. 1.
The committee will hold its next meeting on May 28, the release said. End
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Reported by Ashutosh Pati
Edited by Tanima Banerjee
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