OPEC+ To Address Implementation Of Oil Cuts Deal, No Plans To Discuss Changes Thu - Novak

OPEC+ to Address Implementation of Oil Cuts Deal, No Plans to Discuss Changes Thu - Novak

OPEC+ Joint Ministerial Monitoring Committee (JMMC) does not plan to discuss changes to the oil cuts deal at the Thursday meeting, but intends to address the implementation issues and the situation on the market, Russian Energy Minister Alexander Novak said Wednesday

ABU DHABI (UrduPoint News / Sputnik - 11th September, 2019) OPEC+ Joint Ministerial Monitoring Committee (JMMC) does not plan to discuss changes to the oil cuts deal at the Thursday meeting, but intends to address the implementation issues and the situation on the market, Russian Energy Minister Alexander Novak said Wednesday.

"We have recently made decisions regarding our joint actions for nine months. We will monitor.

The goal of JMMC is not to generate any new offers, but to assess the current situation in the markets and see how the agreement is being implemented. Therefore, it's exactly these issues that we will discuss tomorrow," Novak said.

When asked if the current monitoring metrics may be changed, the Russian minister replied that Russia had no such proposals and was unaware if other members did.

Additionally, the JMMC will discuss slowdown of the global economy and oil demand, Novak added.

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