Meeting of the Joint Ministerial Committee of OPEC and its partners to monitor the production agreement in Jeddah tomorrow

 18-05-2019 Media IN Jeddah

The fourteenth meeting of the Joint Ministerial Committee to monitor the reduction of production between the Organization of the Petroleum Exporting Countries (OPEC) and the countries outside it (OPEC +) will be held tomorrow in Jeddah to discuss the situation of the world oil markets, follow up the work of the Committee and the results of its decisions at previous meetings.

The commitment of the OPEC countries and their partners to the decision to reduce production, and exit recommendations before the meeting (OPEC +) in June next.

The Joint Ministerial Committee is chaired by Saudi Arabia and Russia, and by the membership of Iraq, the United Arab Emirates, Kuwait, Algeria, Nigeria and Kazakhstan; the Committee works to monitor the levels of production of the participating countries in order to stabilize the oil markets.

The meeting will be attended by energy and petroleum ministers from Oman, Bahrain, Venezuela, Libya, South Sudan, Azerbaijan, Brunei and OPEC.

The previous meeting of the Joint Ministerial Committee was held last March in the Azerbaijani capital of Baku, with the commitment of all participating countries to ensure the sustainable stability of the world oil markets, stressing the joint responsibility of all participating countries to maintain market stability.