MOSCOW, August 2 (Bernama-Sputnik/RIA Novosti) -- The OPEC+ will convene on Sunday to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC), reported Sputnik/RIA Novosti.
Its seven member states (Russia, Saudi Arabia, Iraq, Algeria, Kuwait, Kazakhstan, and Oman) which implemented voluntary oil production cuts will meet separately.
The organisation has not recently made any changes to its overall production quotas. Instead, it focused on implementing voluntary cuts and more recently, their gradual rollback. The Sunday meeting is expected to focus on the maximum permitted oil production level for September.
Analysts interviewed by RIA Novosti expect the seven countries to raise their production target by 188,000 barrels per day, same as over the past several months. Thus, the countries would completely forgo all their additional voluntary production cuts.
The JMMC provides recommendations ahead of the OPEC+ biannual general meeting, which next is scheduled for November 29.
--BERNAMA-SPUTNIK/RIA NOVOSTI