The Joint Technical Committee (JTC) of the Declaration of Cooperation (DoC) of OPEC and non-OPEC oil producing countries held its 53rd Meeting via video conference to review the latest oil market developments and discuss future prospects.
OPEC Secretary General, Mohammad Sanusi Barkindo, underscored, in his remarks, the vital role carried out by the JTC in providing high-quality technical analyses of the latest oil market developments. He added that the research and assessments conducted by the Committee serve as crucial input to the DoC’s decision-making process.
He noted that today’s discussions will build on the successful deliberations of the 135th Meeting of OPEC’s Economic Commission Board (ECB) held on 15 and 23 June and the 9th Technical Meeting of OPEC and non-OPEC oil producing countries participating in the DoC held on 16 June.
On the oil market situation, the Secretary General lauded the unwavering commitment and tireless efforts demonstrated by the DoC participating countries since the outbreak of the COVID-19 pandemic, stressing, “The DoC participants clearly continue to play an important and valuable role in accelerating the oil market rebalancing process.”