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OPEC+ monitoring committee to discuss oil market situation

The Joint Ministerial Monitoring Committee will also discuss the level of compliance with OPEC+ agreement terms

MOSCOW, April 5. /TASS/. Eight OPEC+ countries, including Russia and Saudi Arabia, will discuss the oil production plan for May at their monthly online meeting.

The meeting of the OPEC+ Joint Ministerial Monitoring Committee is also scheduled for this Sunday. Alliance representatives will discuss the current situation in the oil market and evaluate the level of performance of OPEC+ agreement terms.

The OPEC+ monitoring committee does not have powers to make decisions in respect of oil production level but can make recommendations on oil production for the alliance. The committee can also convene an extraordinary meeting of OPEC+ ministers if necessary.

The meeting is scheduled for 03:00 p.m. (noon GMT) this Sunday.

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