OPEC's Joint Ministerial Monitoring Committee Emphasizes Energy Supply Security Amid Market Volatility
The Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries (OPEC) held its 65th meeting via videoconference, involving key member countries such as Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Nigeria, Algeria, and Venezuela. The committee reviewed current market conditions and underscored the importance of the Declaration of Cooperation (DoC) in maintaining global energy market stability. Concerns were raised about attacks on energy infrastructure, which can lead to costly and prolonged restoration efforts, thereby affecting supply availability. The JMMC highlighted the critical role of safeguarding international maritime routes to ensure the uninterrupted flow of energy. The committee commended DoC countries for using alternative export routes to mitigate market volatility. The JMMC retains the authority to convene additional meetings or request an OPEC and non-OPEC Ministerial Meeting, with the next meeting scheduled for June 7, 2026. 
