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7

C o n f e r e n c e N o t e s

In this regard, the JMMC welcomed

Nigeria’s voluntary offer to implement the

appropriate production adjustment as soon

as its recovery reaches a sustainable pro-

duction volume of 1.8m b/d.

Finally, the JMMC recommended keep-

ing the extension of the ‘Declaration of

Cooperation’ beyond 1Q18 as an option

should further action be required for the

stabilization of the market.

Before closing the meeting, the JMMC

announced that the 5

th

Meeting of the JMMC

would take place in September 2017 or ear-

lier if deemed necessary.

After the meeting concluded, a press

conference was held at which the President

of the OPEC Conference, the Chairman and

Co-Chairman of the JMMC, along with the

Secretary General and Venezuela’s People’s

Minister of Petroleum, were available to

answer questions from the international

media covering the event.

Speaking to the press are (l–r): Dr Nelson Martinez, (then) People’s Minister of Petroleum, Venezuela; Mohammad Sanusi Barkindo, OPEC

Secretary General; Issam A Almarzooq, Minister of Oil and Minister of Electricity and Water, Kuwait; Alexander Novak, Minister of Energy of the

Russian Federation; and Khalid A Al-Falih, Minister of Energy, Industry & Mineral Resources, Saudi Arabia, and President of the OPEC Conference.

Delegates attend the 4

th

Meeting of the Joint Ministerial Monitoring Committee in St Petersburg.

OPEC bulletin 8–9/17