OPEC+: Stability of the international oil market depends on collective compliance and cohesion among member countries
ALGIERS – Algerian Minister of State, Minister of Energy, Mines, and Renewable energies, Mohamed Arkab, participated on Monday via videoconference in the 61st meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC and non-OPEC countries, the Algerian Ministry of Energy said in a statement.
The meeting was attended by the CEO of Sonatrach, Rachid Hachichi, the president of the National Agency for the Development of Hydrocarbon Resources, Samir Bekhti, and senior officials from the ministry.
This meeting comes within the framework of the monitoring mechanism for the implementation of the cooperation declaration, bringing together the energy ministers from the committee’s member countries, namely: Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela (from OPEC countries), in addition to Kazakhstan and Russia (from non-OPEC countries), the statement said.
The discussions mainly focused on assessing the extent to which the signatory countries of the OPEC+ agreement complied with their commitments to reduce production during May and June 2025. The committee noted with satisfaction that the vast majority of participating countries continue to demonstrate strong and consistent commitment to the decisions taken, the source added.
The committee praised the ongoing efforts to ensure strict implementation of production adjustments and the compensation for excess production, emphasizing the importance of full adherence to the agreed commitments. It also stressed that maintaining the balance and stability of the international oil market depends on the collective compliance and cohesion of the OPEC+ countries.
According to the statement, the ministerial committee has scheduled its next meeting for October 1, 2025, to continue monitoring market developments and the compliance of the participating countries.
