Riyadh: The Joint Ministerial Monitoring Committee (JMMC) of the “OPEC+” group has reiterated its dedication to ensuring adherence to the production adjustment agreements established during the 38th Ministerial Meeting. This was emphasized during the committee’s 62nd meeting, which was conducted via video conference.

According to National Iraqi News Agency, the committee examined crude oil production data for July and August 2025. The focus was on the commitment of OPEC member countries and non-OPEC oil-producing partners to the ‘Declaration of Cooperation,’ underlining the necessity for full compliance with the agreed production cuts and addressing any instances of past overproduction. The committee also assessed updated compensation schedules.

The JMMC reaffirmed its pledge to supervise the implementation of the adjustments agreed upon during the 38th Ministerial Meeting, which took place on December 5, 2024. This includes the voluntary production cuts announced by certain OPEC members and non-OPEC producers, aligning with the outcomes of the 52nd JMMC meeting on February 1, 2024.

Additionally, the committee highlighted its authority to convene further meetings or call for a ministerial meeting of OPEC and non-OPEC producing countries when deemed necessary, consistent with the agreements from the 38th Ministerial Meeting.

The 63rd JMMC meeting is slated for November 30, 2025.