The Joint Ministerial Monitoring Committee (JMMC) of OPEC and its partners (OPEC+) stressed on Wednesday that the “vast majority” of signatories to the Declaration of Cooperation demonstrated a “high level” of compliance with the production cut commitments agreed for July and August 2025.
Meeting by videoconference for its 62nd session, the JMMC found that “the vast majority of participating countries continue to show a high level of compliance, reflecting their commitment to the collective decisions adopted within OPEC+,” the Algerian Ministry of Hydrocarbons and Mines said in a statement.
Held as part of the monitoring framework of the Declaration of Cooperation, the session brought together oil ministers from Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela for OPEC, along with Russia and Kazakhstan as partner countries.
During the meeting—attended by Algeria’s Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab—participants reviewed compliance with the production cut commitments set for July and August 2025.
The JMMC highlighted “efforts undertaken to ensure strict implementation of the production adjustments and the resolution of recorded excesses,” the statement added.
Members also emphasized that “the balance and stability of the international oil market remain closely linked to the cohesion and discipline of all signatory countries.”
The committee further agreed that its next session will be held on November 30, 2025, to continue assessing the market situation and compliance with commitments, the ministry noted.
