The committee was convened on Monday with Mohsen Paknejad taking part. At the meeting, the OPEC Secretariat presented a brief report and projected a positive outlook for the remainder of 2025-2026.
OPEC’s latest monthly report predicts global economic growth at 2.9% in 2025, and rose to 3.1% in 2026. Oil demand growth is expected to reach around 1.3 million barrels per day in both 2025 and 2026.
The committee considered member production levels for May and June 2025 and highlighted strong compliance with OPEC+ members’ production commitments aimed at ensuring stability in the oil market. It emphasized the need for full compliance by all participating countries.
OPEC+ Contracts are fulfilled every two months by the OPEC+ Ministerial Committee, which acts as a monitoring body for OPEC+ Contracts, and can recommend policy adjustments. These proposals will be discussed and approved at the OPEC+ Ministerial Meeting in which all members attend. The next committee meeting will be held on October 1st.
MNA/shana.ir