Alexander Novak chairs 62nd OPEC+ Joint Ministerial Monitoring Committee meeting
Deputy Prime Minister Alexander Novak co-chaired the 62nd meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) via videoconference.
The committee reviewed crude oil production data for July and August 2025 and reported a high degree of conformity with the Declaration of Cooperation by both OPEC and non-OPEC participating countries.
Meeting participants reaffirmed the critical importance of adhering to the OPEC+ agreement, including achieving full compliance with production quotas and compensation plans.
As mandated at the 38th OPEC and non-OPEC Ministerial Meeting on December 5, 2024, JMMC retains the authority to hold additional meetings or to call for a full OPEC and non-OPEC Ministerial Meeting.
The committee will continue to monitor conformity with the production adjustments decided at the 38th Ministerial Meeting, as well as the additional voluntary production adjustments announced by eight OPEC+ countries.
The next meeting of the JMMC, the 63rd, is scheduled for November 30, 2025.
