OPEC+ Monitoring Committee: Targeting energy facilities exacerbates market volatility

The Joint Ministerial Oversight Committee of the coalition was held "OPEC+"Today, Sunday, its 65th meeting via video conference, during which the committee reviewed the current conditions of the petroleum market and stressed the pivotal role of the Declaration of Cooperation in supporting the stability of global energy markets.

In this context, the committee noted the extreme importance of protecting International maritime shipping lanes to ensure the continuous and uninterrupted flow of energy supplies.

The committee expressed its concern about the attacks targeting Energy supplies, whether by targeting infrastructure or disrupting international maritime shipping lanes, increase market volatility and weaken collective efforts within the Declaration of Cooperation that support market stability for the benefit of producers, consumers and the global economy.

In this regard, the Committee praised the countries participating in the Declaration of Cooperation that took measures to ensure the continuity of supplies, especially through the use of alternative export routes, which contributed to reducing market volatility.

The Committee will continue to monitor market conditions closely. It also reserves the authority to hold additional meetings, or to call for a ministerial meeting of OPEC member states and participating producing countries outside of it, based on what was agreed upon during the thirty-eighth ministerial meeting of OPEC member states and participating producing countries outside of it, which was held on December 5, 2024.

It was decided to hold the next meeting of the Joint Ministerial Oversight Committee (the sixty-sixth meeting) on June 7, 2026.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter