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OPEC+ monitoring committee affirms commitment to deal decisions by end of 2024

The committee also expressed appreciation to Russia for the decision to reduce oil exports by 300,000 barrels per day until the end of 2023

MOSCOW, October 4. /TASS/. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) affirmed its commitment to terms of the oil production reduction agreement until the end of 2024 that were reached at the meeting on June 4, according to the final communique posted on the OPEC website.

The monitoring committee expressed full recognition and support to Saudi Arabia for efforts on voluntarily oil production cut by one million barrels daily until the end of 2023, the document indicates. The committee also expressed appreciation to Russia for the decision to reduce oil exports by 300,000 barrels per day until the end of 2023.

The OPEC+ countries reviewed data of oil production by agreement members in July and August and noted that all the participants in the deal fully comply with it.

The JMMC will meet next time on November 26.

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