OpeOluwani Akintayo
Lagos — The 19th OPEC, non-OPEC Ministerial meeting of the Declaration of Cooperation, DoC has been reconvened to today.
A statement by the OPEC Secretariat said the meeting will hold via videoconference.
OPEC+ had earlier delayed its 31st Meeting of the Joint Ministerial Monitoring Committee, JMMC and the 18th OPEC and non-OPEC Ministerial Meeting after Saudi Arabia and Russia pushed a plan to ease cuts and add 2 million barrels per day (bpd) by December.
Saudi Arabia, which chairs the JMMC had requested a delay for further discussions, failing to reach a consensus on the output level after July.
OPEC+ ad agreed to gradually return 2.1 million barrels per day (bpd) of supply to the market during May through July, after which the cuts still in place will stand at 5.8 million bpd.
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