The Joint Ministerial Monitoring Committee (JMMC) held its 68th meeting by videoconference. The committee comprises Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela.

Reviewing current market conditions, the committee underlined the essential role of the Declaration of Cooperation (DoC) in keeping global energy markets stable and stressed how critical it is to protect international shipping routes so that energy keeps flowing without interruption.

Members voiced concern over attacks on energy infrastructure, pointing out that restoring damaged assets to full capacity is expensive and slow and therefore reduces overall supply. Any action that undermines supply security, whether by hitting infrastructure or disrupting maritime routes, raises market volatility and weakens the DoC’s joint efforts to stabilize the market for producers, consumers and the world economy, the committee said.

The JMMC examined crude production data for July and August 2026 and noted overall conformity by the OPEC and non-OPEC countries in the DoC. It reaffirmed that it will keep monitoring compliance with the production adjustments agreed at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) on December 5, 2024.

The committee will continue to watch the market closely and retains the authority, set at the 38th ONOMM on December 5, 2024, to call additional meetings or request a ministerial meeting. Its 69th meeting is scheduled for November 29, 2026.