OPEC+ ministerial panel to meet on Sept. 12

Usama Fayyaz July 25, 2019

LONDON: A panel of OPEC and non-OPEC ministers which reviews the producers’ deal on limiting oil supply will next meet on Sept. 12 in Abu Dhabi, two OPEC sources said on Thursday.

The Joint Ministerial Monitoring Committee, which includes Saudi Arabia and non-OPEC Russia, observes oil-market developments and can make a recommendation to the countries signed up to the deal, a group known as OPEC+.

OPEC+ agreed at its last policy-setting meeting this month to keep a deal to cut oil output by 1.2 million barrels per day in place until March 2020 to support the market.

A day before the JMMC, a technical panel called the JTC will hold its meeting, the sources said.

Copyright Reuters, 2019

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