OPEC+ plans to convene a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February to monitor the implementation of production agreements, Reuters says. The exact date for the meeting has not been decided yet.
The JMMC meeting is expected to assess the implementation of the current quarter’s voluntary output cuts, totaling about 2.2 million barrels per day, agreed upon at the last full ministerial meeting on November 30.
OPEC+ typically holds such meetings every two months to review the production commitments of its member countries. The JMMC includes leading countries within the alliance, such as Saudi Arabia, Russia, and the United Arab Emirates.
Last month, OPEC member Angola quit the group because it was unhappy with the production quota it was given.