OPEC+ to hold meeting in Baku on March 18

The Joint Ministerial Monitoring Committee (JMMC) meeting will be held in Baku on March 18, OPEC said.

"The JMMC calls on all participating countries of the ‘Declaration of Cooperation’ to redouble their efforts in the full and timely implementation of the supply adjustments to ensure that the oil market remains in balance in 2019," Interfax cited the statement as saying.

It was noted that voluntary production adjustments will continue to be monitored by the JMMC on a monthly basis.

Earlier, the meeting was announced by UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei.