OPEC+ explores mechanism to assess participating countries' MSC

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The Ministry of Energy announced the outcome of the 39th meeting of the OPEC and non-OPEC participating countries.

Under the Declaration of Cooperation (DoC), which aims to achieve and sustain a stable oil market, the participating countries decided to reaffirm the framework of the DoC, signed on Dec. 10, 2016, and further endorsed in subsequent meetings.

The meeting reaffirmed the level of overall crude oil production for OPEC and non-OPEC participating countries in the DoC as agreed in the 38th OPEC and non-OPEC Ministerial Meeting until Dec. 31, 2026.

They reaffirmed the mandate of the Joint Ministerial Monitoring Committee (JMMC) to closely review global oil market conditions, oil production levels, and the level of conformity with the DoC, assisted by the OPEC Secretariat. The JMMC meeting is to be held every two months.

The meeting affirmed the JMMC’s authority to hold additional meetings, or to request an OPEC and non-OPEC ministerial meeting at any time to address market developments, whenever deemed necessary.

In addition, the countries reiterated the critical importance of adhering to full conformity and the compensation mechanism.

They also mandated the OPEC Secretariat to develop a mechanism to assess each participating country’s maximum sustainable production capacity (MSC) to be used as a reference for 2027 production baselines for all DoC countries.

The participants agreed to hold the 40th OPEC and non-OPEC Ministerial Meeting on Nov. 30, 2025.