Logo design of OPEC
The Organization of the Petroleum Exporting Countries (OPEC) mentioned that the Joint Ministerial Monitoring Committee (JMMC) examined today, Feb. 1, the petroleum production information for November and December 2023 and kept in mind the dedication of OPEC and non-OPEC members to the statement of cooperation (DoC).
In a declaration, OPEC included that the committee will continue to keep track of the production changes chose at last June conference. This is besides the extra voluntary production modifications revealed by some OPEC and non-OPEC members in April 2023 and the subsequent changes in November 2023.
The committee will likewise continue to carefully examine market conditions, keeping in mind the determination of the DoC nations to deal with market advancements and stand prepared to take extra steps at any time.
The next conference of the JMMC is set up for April 3.