The Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group stressed the critical importance of achieving full conformity and compensation in oil production.
The 62nd Meeting of the JMMC took place via videoconference on Wednesday and reviewed the crude oil production data for the months of July and August 2025.
In a statement published on its website, OPEC said it reviewed the updated compensation schedules and noted the commitment of OPEC member states and non-OPEC oil-producing countries participating in the Declaration of Cooperation.
The committee further emphasized its ongoing monitoring of the production adjustments agreed upon during the 38th Ministerial Meeting of OPEC and non-OPEC countries participating in the Declaration of Cooperation, as well as the additional voluntary production adjustments announced by some member states and participating non-OPEC producers, in accordance with the decisions made during the 52nd JMMC meeting held on February 1, 2024.
The JMMC added that it retains the authority to convene additional meetings or call for a Ministerial Meeting of OPEC and non-OPEC participating countries, based on the agreements reached during the 38th Ministerial Meeting held on December 5, 2024.
The next JMMC meeting (the 63rd) is scheduled to take place on November 30, it noted.
