London: The OPEC group of oil-producing countries and its allies look set to keep boosting production at their meeting on Tuesday, as pandemic-hit demand for crude recovers. The OPEC+ alliance, consisting of 23 countries, implemented sharp output cuts to support prices after the coronavirus pandemic crushed the global economy last year.But since early May.
05/31/2021 | News release | Distributed by Public on 05/31/2021 07:34
DoC Joint Technical Committee discusses oil market developments
Vienna, Austria, 31 May 2021 The Joint Technical Committee (JTC) convened for its 52nd Meeting via videoconference to review the conditions and emerging trends in the global oil market.
The virtual meeting was held in advance to the 30th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 17th OPEC and non-OPEC Ministerial Meeting (ONOMM) scheduled for Tuesday, 1 June 2021.
In his opening remarks, OPEC Secretary General, HE Mohammad Sanusi Barkindo, thanked the committee members for their tireless efforts in realising the committee s objectives, highlighting that the JTC continues to play a vital role in the success of the landmark Declaration of Cooperation (DoC).
The Joint Technical Committee (JTC) of the OPEC+ group maintained at a meeting on Monday its outlook for global oil demand growth at around 6 million barrels per day (bpd) this year