The 59th Meeting of the Joint Ministerial Monitoring Committee (JMMC) was held via videoconference on Wednesday, 9 April 2025.
The Joint Ministerial Monitoring Committee (JMMC) reviewed crude oil production figures for January and February 2025 and acknowledged the overall compliance of both OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).
The Committee expressed appreciation for the additional voluntary production adjustments implemented by eight OPEC+ countries, as announced in April and November 2023, highlighting their continued contribution to market stability.
It also took note of the countries that have yet to fully meet their production targets and compensation requirements. The Committee emphasized the importance of achieving full conformity and fulfilling compensation commitments, urging these countries to submit updated, front-loaded compensation plans to the OPEC Secretariat by 15 April 2025.
Furthermore, the JMMC reaffirmed its commitment to monitoring compliance with the production adjustments agreed during the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5 December 2024, as well as the additional voluntary adjustments announced during the 52nd JMMC on 1 February 2024.
In line with the authority granted at the 38th ONOMM, the JMMC retains the discretion to convene additional meetings or to request a full OPEC and non-OPEC Ministerial Meeting, should the need arise.
The Committee’s 60th Meeting is scheduled to take place on 28 May 2025.
