OPEC+ monitoring committee to meet on January 4

MOSCOW. KAZINFORM The meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was postponed from December 17 to January 4 of the next year, the OPEC Secretariat said on Monday. The OPEC+ ministerial meeting to determine oil production levels for February will be held on the same day.

Meetings will be preceded by the OPEC+ Technical Committee meeting on January 3, 2021, initially scheduled for December 16 of this year, TASS reports.

«The 47th Meeting of the Joint Technical Committee (JTC) and the 25th Meeting of the Joint Ministerial Monitoring Committee (JMMC) originally scheduled for 16 and 17 December 2020 have been rescheduled for 3 and 4 January 2021, respectively. The 13th OPEC and non-OPEC Ministerial Meeting is scheduled for 4 January 2021,» the Secretariat said.

On December 3, OPEC+ ministers agreed to increase oil production by 500,000 barrels from January 1 of the next year. OPEC+ member states will also hold monthly meetings to review the current status of the oil market and revise further levels of oil production limitations.