MOSCOW, June 7. /TASS/. The OPEC and non-OPEC countries have reaffirmed their commitment to the existing agreements and agreed to keep the current overall oil production level until the end of 2026, according to the statement after the OPEC and non-OPEC Ministerial Meeting.
They also affirmed "the importance of completing the maximum sustainable production capacity (MSC) assessment for all DoC (Declaration of Cooperation - TASS) countries to be used as reference for 2027 production baselines."
They also agreed to adhere to the agreement on holding Joint Ministerial Monitoring Committee (JMMC) meetings every two months and reiterated "the critical importance of adhering to full conformity and the compensation mechanism." The participants also endorse the plan developed by OPEC Secretariat to achieve the objectives of the Charter of Cooperation (CoC).
The next OPEC and non-OPEC Ministerial Meeting will be held on 29 November 2026.