OPEC + is delaying its two technical meetings scheduled for Monday and Tuesday by 48 hours:
- The OPEC Joint Technical Committee and the Joint Ministerial Monitoring Committee (JTC and JMMC respectively) will now meet on Wednesday and Thursday (December 1 and 2).
This is to allow more time to assess the market in light of new concerns regarding the COVID-19 variant.
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- The role of the JTC is to make an assessment of the energy markets, the balance of supply and demand, for OPEC ministers to take into account when developing cartel policy.
- JMMC monitors the compliance of Opec + members with their production quotas.
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