OPEC+ Committee Calls on Members to Compensate for Overproduction ...Middle East

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OPEC+ Committee Calls on Members to Compensate for Overproduction
The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel that monitors oil market developments and the group’s production cuts, didn’t recommend on Wednesday any changes to output policy but noted that compliance with the cuts needs to improve. The JMMC held a brief regular meeting today and, as widely expected, did not recommend to the OPEC+ ministers to change the current levels of oil production cuts. However, the panel, which doesn’t decide policy but only recommends a course of action to the ministers,…

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