(Finance) – A OPEC+ Technical Committee did not make any recommendations to change the current production policy of the group of oil producing nations.
The Joint Ministerial Monitoring Committee (JMMC) reviewed crude oil production data for November and December 2022 and noted overall compliance for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC), it said in a statement.
OPEC+ agreed in October Of cut its production target of 2 million barrels per day (bpd)about 2% of global demand, from November until the end of 2023. The technical committee’s status quo recommendation was widely anticipated.
Two weeks ago, the Organization of the Petroleum Exporting Countries (OPEC) left the demand forecast oil world.