The Organization of the Petroleum Exporting Countries announces that the Joint Technical Committee (JTC) of the Statement of Cooperation (DoC) signed by OPEC and non-OPEC members (OPEC+), held its 58th meeting on Monday, via videoconference, to examine world oil market conditions.

In a press release published on its website, OPEC indicates that this meeting preceded the 36th meeting of the Joint Ministerial Committee for monitoring the application of the OPEC + Agreement (JMMC) and the 24th ministerial meeting bringing together the members of the OPEC and non-OPEC, scheduled for Tuesday. Quoted in the statement, OPEC Secretary General Mohammad Sanusi Barkindo stressed “the need to remain highly agile and adaptable to the ever-changing oil market situation”.

Referring to OPEC's monthly oil market report, OPEC's Sg noted that global oil demand is expected to reach 100.6 mb/d in 2022, surpassing pre-pandemic levels. Oil prices were up this morning. The price of a barrel of Brent from the North Sea for delivery in March took 1.39% to 78.85 dollars while the WTI, for delivery in February, gained 1.26% to 76.16 dollars.