ALGIERS – Thursday, 03 August 2023 (APS) – Minister of Energy and Mines Mohamed Arkab will participate on Friday, by videoconference, in the 49th meeting of the OPEC-non-OPEC Joint Ministerial Monitoring Committee (JMMC), the ministry said Thursday in a statement.

This meeting will be devoted to the examination of the current situation of the global oil market and its sort-term evolution prospects, said the source.

The ministerial Committee will also assess the respect of the production levels by the countries of the Cooperation Declaration (OPEC+) in May and June 2023, said the source.

JMMC holds periodically a bimonthly meeting in order to evaluate the implementation of the decisions taken by OPEC+ to maintain the balance and stability of the global oil market.