LONDON – An OPEC+ ministerial panel monitoring the group’s oil supply reduction deal will hold its next virtual meeting on Aug. 19, a day later than previously planned, three OPEC+ sources said on Friday, without giving a reason for the date change.
Source: Reuters
The panel, called the Joint Ministerial Monitoring Committee (JMMC), advises the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+.
OPEC+ has been cutting output since May to tackle the fallout from the COVID-19 pandemic.
Last month the JMMC recommended that the cut be eased from Aug. 1 to about 7.7 million barrels per day (bpd) from a reduction of 9.7 million bpd previously, in line with an earlier OPEC+ agreement. That change was implemented this month.
Russian Energy Minister Alexander Novak said on Thursday there have been no additional proposals to change the deal.
