OPEC+ monitoring committee meets to assess situation on oil market

The OPEC+ Ministerial Monitoring Committee began a meeting via video conference, at which the alliance countries will assess the current situation in the oil market, a source in one of the delegations told TASS, Report informs.

“The meeting has just begun,” the agency’s interlocutor said.

Earlier, Bloomberg, citing sources in OPEC+ delegations, reported that the monitoring committee is unlikely to recommend changes to the alliance’s current oil production plan.

This time there will only be a meeting of the OPEC+ monitoring committee, which usually assesses the current situation in the oil market and determines a recommendation on the alliance’s oil production policy. However, the committee may, if necessary, request a general OPEC+ meeting at any time. Ministerial monitoring meetings are now held once every two months.