The OPEC meeting originally scheduled for December 1 has been moved to December 5.
According to a press release by the Organisation of Petroleum Producing Countries (OPEC) on November 28, the 57th Joint Ministerial Monitoring Committee (JMMC) and the 38th OPEC and NON-OPEC Ministerial Meeting (ONOMM) originally planned for 1 December 2024 have been rescheduled to Thursday, 5 December 2024, via videoconference.
The reason for this rescheduling, according to the press release is because several Ministers will be attending the 45th Gulf Summit in Kuwait City, the state of Kuwait.
The JMMC monitors oil production levels, global oil market conditions, and compliance with the Declaration of Cooperation (DoC). It also reviews crude oil production data and market conditions, as well as recommends decisions to the DoC Ministerial Meeting.
