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JMMC supports oil production increase by 2 mln bpd by year-end, except the UAE

Consultations will be held further at the OPEC+ ministerial conference, with all 23 member-states in attendance, the source informed

MOSCOW, July 2. /TASS/. Almost all members of the OPEC+ Joint Ministerial Monitoring Committee (JMMC), except the UAE, supported the proposal to boost oil production by 0.4 mln barrels daily per month from August until 2021 year-end and extend the deal until 2022 year-end, a source participating in talks told TASS.

"Everything the same as yesterday, except that everyone supported now the smooth production increase by 0.4 mln barrels daily per month from August to December and the deal extension. Everyone except the UAE," the source said.

Consultations will be held further at the OPEC+ ministerial conference, with all 23 member-states in attendance, the source added.

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