OPEC+ JMMS support Kazakhstan, Iraq decision to compensate for oil overproduction - Energy MinistryThe Joint Ministerial Monitoring Committee (JMMC) supported the decision of Kazakhstan and Iraq to fully comply with obligations and compensate for overproduction, the press service of Kazakhstan Energy Ministry reported.On April 3, 2024, the 53rd meeting of the Joint Ministerial Monitoring Committee (JMMC) was held via videoconference.The JMMC welcomed the pledge by Iraq and Kazakhstan, which produced more than they were permitted in the first few months of 2024, to achieve full conformity as well as compensate for overproduction, as well as the announcement by the Russian Federation that its voluntary adjustments in the second quarter of 2024 will be based on production instead of exports.The JMMC will continue to closely assess market conditions and is ready to take additional measures at any time.The next JMMC meeting is scheduled for June 1, 2024. (ICE ALMATY)

Fonte notizia: INTERFAX