OPEC, Non-OPEC Invite Iraq, Iran To Join Ministerial Monitoring Committee - UAE Minister

OPEC members and non-cartel oil producers have invited Iraq and Iran to join the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC), which is monitoring the implementation of the oil output cut deal and issues recommendations for changing its conditions, UAE Energy Minister Suhail Mazrouei said on Friday.

VIENNA (UrduPoint News / Sputnik - 07th December, 2018) OPEC members and non-cartel oil producers have invited Iraq and Iran to join the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC), which is monitoring the implementation of the oil output cut deal and issues recommendations for changing its conditions, UAE Energy Minister Suhail Mazrouei said on Friday.

"This is something that we are discussing that we will ask some countries to join [the JMMC] and replace, it's really within the discussion. We may see new members joining and others leaving ... we have invited, as a matter of fact, some countries like Iraq and Iran to consider joining. We are still waiting for these countries to have their interest to join," Mazrouei told reporters at the OPEC-non-OPEC meeting in Vienna.

Iranian Petroleum Minister Bijan Zangeneh said on Thursday that Iran was not willing to be a part of the JMMC as this body acted beyond its mandate during the past 12 months.