The meeting of the OPEC/non-OPEC Joint Ministerial Monitoring Committee (JMMC) was successful, Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Abdulaziz Al-Falih said at a press conference on the results of the 13th meeting of the OPEC/non-OPEC JMMC in Baku, Trend reports.
"We discussed a number of important issues. We decided to accept new members - Iraq, Kazakhstan, Nigeria and the UAE," the minister said.
Moreover, as noted by Al-Falih, the next steps needed to stabilize the market were discussed.
The minister added that it does not make sense to hold the meeting in April and it may be canceled.
The 13th meeting of the OPEC/non-OPEC Joint Ministerial Monitoring Committee (JMMC) was held in Baku March 18. A day before the JMMC meeting, Baku hosted the 27th meeting of the Joint Technical Commission.
The meeting participants discussed the current state of the oil market, existing problems and other issues.
The event then featured a presentation on the pace of oil market development, and the report of the Joint Technical Commission on production figures for February.
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