No production increase discussed at JMMC meeting

SHANA – Iran’s OPEC Governor Hussein Kazempour Ardebily said no production increase was discussed during Sunday’s meeting of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) in Algiers.

Ardebily who represented Iran in the meeting told Shana that the compliance of OPEC and non-OPEC signatories of the OPEC output cut deal was announced at 118% and 119%, respectively, during the meeting.

“The member countries present in the meeting emphasized 100 percent compliance to the OPEC-Non-OPEC agreement,” he said.

In 2016, OPEC and non-OPEC crude oil producers including Russia struck a historic agreement to curb their overall production by 1.8 million barrels per day by December 2018.