The committee is currently tracking compliance with production adjustments established during the December 5, 2024, OPEC and non-OPEC Ministerial Meeting. The JMMC retains the power to call for additional meetings if conditions change before its next scheduled session on November 29, 2026.
Tuesday, October 20, 2026
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JMMC Warns Global Oil Supply Shortfall Drives Market Volatility
Commodities17 days ago
The 68th meeting of the Joint Ministerial Monitoring Committee focused on the high cost and long duration required to restore damaged energy assets to full capacity. Members from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria, and Venezuela warned that infrastructure attacks and disruptions to maritime routes increase instability and undermine energy security. Russian Deputy Prime Minister Alexander Novak noted that the JMMC specifically identified a supply shortfall as the cause of recent fluctuations in global oil markets.
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