OPEC and OPEC+ set dates for upcoming meetings

The OPEC+ Monitoring Committee and Ministerial Meetings Shift to Virtual Format on June 2, Azernews reports.

The organization announced that the upcoming 188th Meeting of the OPEC Conference, the 54th Joint Ministerial Monitoring Committee (JMMC) Meeting, and the 37th Meeting of Ministers from OPEC and non-OPEC countries (ONOMM) will be conducted via video conference.

Originally scheduled for June 1 in Vienna, Austria, the meetings will now take place digitally, underscoring ongoing adaptations in response to global circumstances.

It should be noted OPEC, founded in 1960, coordinates oil policies among its 13 member countries, including major producers like Saudi Arabia and Iran. To adapt to changing global oil dynamics, OPEC formed OPEC+ in collaboration with non-member oil producers like Russia.

Azerbaijan, a significant oil producer, actively participates in OPEC+ discussions despite not being an OPEC member. Its involvement adds diversity to the alliance and helps address challenges in the global oil market.