OPEC+ committee ministers do not recommend changing oil drilling quotas, next meeting on April 3

MOSCOW. Feb 1 (Interfax) - OPEC+ Joint Ministerial Monitoring Committee ministers have recommended that no decision be made to change oil production quotas due to the current market situation, sources familiar with the situation told Interfax.

According to an OPEC press release, committee ministers, having examined production data from November and December 2022, indicated their commitment to the declaration agreed on October 5, 2022. Current oil production quotas will thus remain unchanged.

The next JMMC session is planned for April 3, 2023.