The OPEC+ group announces that it will stick to the barrel reduction decision

The 47th meeting of the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group, made up of 13 OPEC members led by Saudi Arabia and 10 non-OPEC oil-producing countries led by Russia, took place online.

In a written statement from OPEC, it was noted that the committee evaluated crude oil data for the November and December 2022 periods.

In the statement, it was indicated that the OPEC+ group will adhere to the decision to cut 2 million barrels per day taken at the 33rd OPEC Ministerial Meeting and not OPEC on October 5, 2022, which will last until the end of this year. .

Noting the importance of all participating countries fully complying with the decision and compensating for the excess production mechanism, the statement shared that the next JMMC meeting will be held on April 3, 2023. (BRITISH AUTOMOBILE CLUB)