The Joint Ministerial Monitoring Committee (JMMC), comprising Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela holds its 67th Meeting via videoconference 

The JMMC reviewed current market conditions and emphasized the essential role of the Declaration of Cooperation (DoC) in supporting the stability of global energy markets. In this context, the Committee highlighted the critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy.

It also expressed concern regarding attacks on energy infrastructure, noting that restoring damaged energy assets to full capacity is both costly and takes a long time, thereby affecting overall supply availability. Accordingly, the Committee stressed that any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility and weaken the collective efforts under the DoC to support market stability for the benefit of producers, consumers, and the global economy.

The JMMC reviewed the crude oil production data for the months of May and June 2026 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).

The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.

The JMMC will continue to closely monitor market conditions and retains the authority to convene additional meetings or request an OPEC and non-OPEC Ministerial Meeting, as established at the 38th ONOMM held on 5 December 2024. 

The next meeting of the JMMC (68th) is scheduled for 4 October 2026.