Riyadh, October 01 (QNA) - The Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group reaffirmed its continued oversight of compliance with the production adjustments agreed upon during the 38th Ministerial Meeting.

According to the Saudi Press Agency, the committee held its virtual 62nd meeting Wednesday, during which it discussed crude oil production data for July and August 2025.

The committee noted the commitment of OPEC member states and non-OPEC oil-producing countries participating in the Declaration of Cooperation, reiterating the critical importance of full compliance and compensation in oil production. It also reviewed the updated compensation schedules.

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, held on December 5, 2024, 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, 2025. (QNA)