OPEC+ Committee Praises Compliance with Oil Production Cut Agreement

By Nor Eleslam

During its 61st meeting held via videoconference on Monday, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) expressed strong satisfaction with the commitment shown by most participating countries to the production cut agreement for May and June 2025. The committee emphasized the vital importance of full adherence to the agreed commitments, noting that global oil market stability depends on collective compliance and unity among OPEC+ members. Algerian Minister of Energy and Mines, Mohamed Arkab, participated alongside Sonatrach CEO Rachid Hachichi and ALNAFT president Samir Bekhti. The session also included representatives from member states such as Saudi Arabia, the UAE, Iraq, Kuwait, Nigeria, Venezuela, Kazakhstan, and Russia. The next meeting is scheduled for October 1, 2025, to continue assessing market trends and member compliance.