OPEC+ committee warns of possible prolonged oil production recovery after attacks

MOSCOW. April 6 (Interfax) - The OPEC+ Joint Ministerial Monitoring Committee (JMMC), which includes Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela, has reviewed the current market situation and emphasized the crucial role of the OPEC+ agreement in ensuring the stability of global energy markets, OPEC said in a press release.

In this context, the JMMC stressed the exceptional importance of protecting international sea lanes to ensure the uninterrupted flow of energy.

The JMMC also expressed concern over attacks on energy infrastructure, noting that restoring damaged energy assets to full capacity is a costly and lengthy process, which affects overall supply availability.

Accordingly, the JMMC said that any actions that undermine the security of energy supply, whether attacks on infrastructure or disruption of international sea lanes, increase market volatility and weaken the collective efforts of participating countries of the OPEC+ agreement to maintain market stability in the interests of producers, consumers and the global economy. In this regard, the JMMC commended the initiative of participating countries to ensure continuity of supplies, particularly through the use of alternative export routes, which has helped reduce market volatility.

The JMMC will continue to closely monitor the market situation and reserves the right to convene additional meetings or request OPEC+ ministerial meetings.

The next committee meeting is scheduled for June 7, 2026.