OPEC+ urges non-compliant members to submit compensation plans by Aug. 18

The 61st Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 28 July 2025, Report informs, citing OPEC.

The JMMC reviewed the crude oil production data for the months of May and June 2025 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).

The committee reiterated the critical importance of achieving full conformity and compensation, and requested countries that did not achieve full conformity to submit updated compensation plans to the OPEC Secretariat by August 18, 2025.

The committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on December 5, 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on February 1, 2024.

The JMMC retains the authority to convene additional meetings or to request an OPEC and non-OPEC Ministerial Meeting, as established during the 38th ONOMM held on December 5, 2024.

The next meeting of the JMMC (62nd) is scheduled for October 1, 2025.