2025-02-07 06:50:00
OPEC + RUSSIA: HIGH CONFORMITY
OPEC - 03 Feb 2025 - 58th Meeting of the Joint Ministerial Monitoring Committee
The 58th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 03 February 2025.
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.
The Committee welcomed the improved conformity of the Republics of Kazakhstan and Iraq, including the additional voluntary production adjustments. The meeting also welcomed renewed pledges by the overproducing countries to achieve full conformity and to resubmit their updated compensation schedules to the OPEC Secretariat for the overproduced volumes, for the period since Jan 2024, before the end of Feb 2025, as agreed in the 52nd Meeting of the Joint Ministerial Monitoring Committee (JMMC).
The Committee emphasized the critical importance of achieving full conformity and compensation, and reaffirmed that they will continue to monitor adherence to the production adjustments agreed upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024. The Committee will also continue to monitor 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 Members of the JMMC reaffirmed their commitment to the DoC which extends to the end of 2026 as decided at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5 December 2024.
Moreover, the members of the JMMC who participated in the additional voluntary production adjustments plan announced on 5 December 2024 reaffirmed their commitment noting that these additional voluntary production adjustments have ensured the stability of the oil market.
After thorough analysis from the OPEC Secretariat, the Committee replaced Rystad Energy and the Energy Information Administration (EIA) with Kpler, OilX, and ESAI, as part of the secondary sources used to assess the crude oil production and conformity of the DoC Participating Countries, effective 1 February 2025.
The next meeting of the JMMC (59th) is scheduled for 5 April 2025.
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Earlier:
2024, December, 13, 07:00:00
ОПЕК+ РОССИЯ: ОГРАНИЧЕНИЕ 2.2 МБД
Её участники договорились продлить дополнительные добровольные ограничения по добыче нефти на 1,65 млн баррелей в сутки до конца декабря 2026 года. Кроме того, эти восемь стран продлят дополнительные добровольные ограничения на 2,2 млн баррелей нефти в сутки до конца марта 2025 года.
2024, December, 13, 06:55:00
OPEC+ RUSSIA: ADJUSTMENTS 2.2 MBD
The meeting was conducted to reinforce the precautionary efforts of OPEC+ countries, aiming to support the stability and balance of oil markets. The aforementioned countries decided, in addition to the latest decisions from the 38th ONOMM, to extend the additional voluntary adjustments of 1.65 million barrels per day that were announced in April 2023, until the end of December 2026.
2024, November, 26, 06:55:00
ОПЕК+ РОССИЯ: СТАБИЛЬНОСТЬ РЫНКА
Энергетический диалог между Россией и ОПЕК является одним из ключевых диалогов, проводимых организацией с многочисленными странами – производителями и странами – потребителями нефти, а также международными организациями с целью получения информации, изучения новых тенденций и проблем отрасли.
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’.
2024, November, 5, 06:55:00
OPEC OIL PRODUCTION UP
Supplies from the Organization of Petroleum Exporting Countries increased by 370,000 barrels a day to 29.9 million a day in October, according to a Bloomberg survey. The gain was tempered by reductions in Iraq, Iran and Saudi Arabia.
2024, October, 4, 06:55:00
ОПЕК+ РОССИЯ: ПОЛНОЕ СООТВЕТСТВИЕ
В дальнейшем страны подтвердили готовность поддерживать полное соответствие требованиям сделки ОПЕК+.
2024, October, 4, 06:50:00
OPEC + RUSSIA: FULL CONFORMITY
The JMMC emphasized the critical importance of achieving full conformity and compensation.
2024, August, 6, 06:50:00
ОПЕК+РОССИЯ: ВЫСОКОЕ СООТВЕТСТВИЕ
Ряд государств, входящих в ОПЕК+ (Россия, Саудовская Аравия, Алжир, Ирак, Кувейт, ОАЭ, Казахстан и Оман), которые ранее взяли на себя обязательства добровольного дополнительного сокращения добычи нефти на 2,2 млн баррелей в сутки, объявили о том, что после сентября 2024 года могут постепенно корректировать параметры сделки и наращивать добычу нефти в зависимости от рыночных условий.
