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
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
Meeting of the Joint Ministerial Monitoring Committee in St Petersburg.
OPEC bulletin 8–9/17