VIENNA, November 30. /TASS/. Saudi Arabia has become a co-chairman of the Joint Ministerial Monitoring Committee (JMMC) overseeing the implementation of the OPEC+ oil production cut deal, the Organization of Petroleum Exporting Nations (OPEC) said in a statement on Thursday.
OPEC and non-OPEC participants of the Vienna ministerial meeting said in a joint Declaration of Cooperation they agreed "to support the extension of the mandate of the Joint Ministerial Monitoring Committee (JMMC) composed of Algeria, Kuwait, Venezuela, Saudi Arabia and two participating non-OPEC countries of the Russian Federation and Oman, chaired by Saudi Arabia, co-chaired by the Russian Federation, and assisted by the Joint Technical Committee at the OPEC Secretariat, to closely review the status of and conformity with the Declaration of Cooperation and report to the OPEC - non OPEC Conference."
Russian Energy Minister Alexander Novak told reporters earlier in the day that the number of participants of the OPEC+ ministerial monitoring committee has risen to six.
"The monitoring committee will continue its work, today another member joined it, from one of the countries. We will keep meeting every two or three months to sum up the results of implementing the deal and analyze situation on the market," Novak said.