2025-10-03 06:50:00
OPEC + OVERALL CONFORMITY
OPEC - 01 October 2025 - 62nd Meeting of the Joint Ministerial Monitoring Committee
The 62nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 01 October 2025.
The JMMC reviewed the crude oil production data for the months of July and August 2025 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).
The Committee reiterated the critical importance of achieving full conformity and compensation, and reviewed the updated compensation schedules.
The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.
The JMMC retains the authority to convene additional meetings or to request an OPEC and non-OPEC Ministerial Meeting, as established during the 38th ONOMM held on 5 December 2024.
The next meeting of the JMMC (63rd) is scheduled for 30 November 2025.
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Earlier:
2025, August, 5, 06:50:00
OPEC+: MARKET STABILITY
The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.
2025, July, 30, 06:50:00
OPEC+ RUSSIA: OVERALL CONFIRMITY
The Committee reiterated the critical importance of achieving full conformity and compensation, and requested countries that did not achieve full conformity to submit updated compensation plans to the OPEC Secretariat by 18 August 2025.
2025, June, 3, 06:55:00
OPEC+ RUSSIA OIL PRODUCTION: +411 TBD
In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in July 2025 from June 2025 required production level.
2025, May, 13, 06:50:00
OPEC+ RUSSIA: + 411 TBD
In view of the current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in June 2025 from May 2025 required production level.
2025, April, 8, 06:50:00
OPEC+ RUSSIA INCREASING 0.4 MBD
The Committee valued the additional voluntary production adjustments made by the 8 OPEC plus countries which were announced in April and November 2023 in supporting market stability.
2025, March, 13, 06:55:00
OPEC+ OIL PRODUCTION WILL UP
Furthermore, the eight countries reiterated their collective commitment to full conformity with the additional voluntary production adjustments as agreed under the 53rd JMMC meeting on April 3, 2024. T
2025, February, 7, 06:50:00
OPEC + RUSSIA: HIGH CONFORMITY
The JMMC reviewed the crude oil production data for the months of November and December 2024 and noted the high overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC). The improved conformity further reaffirms the DoC countries’ shared objectives of unity and cohesion.
2024, November, 26, 06:50:00
OPEC+ RUSSIA: STRATEGIC COOPERATION
The Meeting constitutes an important milestone in the energy dialogue. It emphasized the strategic importance of cooperation between OPEC and the Russian Federation, including through the frameworks of the ‘Declaration of Cooperation’ and the ‘Charter of Cooperation’.