The Joint Ministerial Monitoring Committee, which tracks compliance under the Declaration of Cooperation, the supply pact linking OPEC and non-OPEC producers, said its members are holding to agreed production levels. Conformity, in OPEC's own usage, measures how closely a member's actual output tracks the quota it agreed to under the pact. The panel reached its finding after reviewing crude output data for May and June 2026 at its 67th meeting, held by videoconference.
The committee's eight members are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela.
The panel also raised concerns about attacks on energy infrastructure and stressed the need to protect international shipping routes that carry oil and gas. Repairing damaged energy assets is costly and slow, it said, which cuts into overall supply availability. Any action that undermines energy supply security, whether an attack on infrastructure or a disruption to shipping routes, adds volatility to energy markets and weakens the group's joint effort to keep those markets stable, the committee said.
The panel will keep watching how OPEC and non-OPEC countries stick to the production adjustments agreed at the 38th OPEC and non-OPEC Ministerial Meeting on December 5, 2024, and the extra voluntary cuts some countries announced at the 52nd JMMC meeting on February 1, 2024. It kept the authority to call more meetings, or request a full ministerial meeting, if conditions change.
The 68th JMMC meeting is scheduled for October 4, 2026.
