Sharjah24 - WAM: The 36th OPEC and non-OPEC Ministerial Meeting (ONOMM), was held here via videoconference, on Thursday, 30th November 2023.

The meeting reaffirmed the continued commitment of the Participating Countries in the Declaration of Cooperation (DoC) to ensure a stable and balanced oil market.

In view of current oil market fundamentals, the Meeting also reaffirmed the Framework of the Declaration of Cooperation, signed on 10th December 2016 and further endorsed in subsequent meetings including the 35th OPEC and Non-OPEC Ministerial Meeting on 4th June 2023; as well as the Charter of Cooperation, signed on 2nd July 2019.

Noted that, in accordance with the decision of the 35th OPEC and non-OPEC Ministerial Meeting, the completion of the assessment by the three independent sources (IHS, Wood Mackenzie and Rystad Energy) for production level that can be achieved in 2024 by Angola, Congo and Nigeria as follows: Angola at 1,110 t/bd, Congo at 277 t/bd and Nigeria at 1,500 t/bd.

The Meeting welcomed Alexandre Silveira de Oliveira, Minister of Mines and Energy of the Federative Republic of Brazil, which will join the OPEC+ Charter of Cooperation starting January 2024.

The 37th OPEC and non-OPEC Ministerial Meeting will be held on 1st June 2024 in Vienna.