Kuwait city: Kuwaiti Minister of Oil Tareq Al-Roumi has emphasized the importance of continued coordination among OPEC Plus countries to maintain stability in the global oil market by balancing supply and demand. In his statement following the 62nd session of the Joint Ministerial Monitoring Committee (JMMC), held today via videoconference, he highlighted the significance of this cooperation.
According to Kuwait News Agency, Minister Al-Roumi noted that market indicators are showing a revival in basic market conditions and growth in the global economy. He mentioned that the Committee reviewed member states' crude oil production and their compliance with quotas for July and August.
The Committee praised the high conformity rate among member states and encouraged them to adhere to production compensation plans to maintain supply and demand balance. In addition to Minister Al-Roumi, Kuwait's Governor at OPEC Mahammad Al-Shatti and Kuwait's National Representative at the organization Sheikh Abdullah Sabah Salem Al-Sabah also participated in the meeting.