Sixteen countries invited to meeting of OPEC+ ministerial monitoring committee to be held in Algeria

Baku. 11 September. REPORT.AZ/ TASS/. Sixteen countries have been invited to the meeting of the ministerial monitoring committee of OPEC +, which will be held in Algeria on September 23, Report informs citing TASS.

The source added that the meeting may become the biggest for the number of participants in the history of the committee.

In total 16 countries have been invited, the meeting will be held in the mini-OPEC format. Only Ecuador and Equatorial Guinea will not attend the meeting.

It is not clear whether Iran will take part in the meeting of the committee.

The ministerial monitoring committee includes six countries - Russia, Saudi Arabia, Kuwait, Venezuela, Algeria and Oman.

The source also said that the meeting of experts of the technical committee, scheduled for September 11, which was to discuss the mechanism for distribution of quotas for the recovery of production, has been postponed to September 17.

The ministerial meetings of the committee are held every other month since the beginning of 2017, when the agreement on cutting oil output came into effect.

The function of the committee is to recommend measures for joint regulation of the oil market to OPEC+ countries.