Oil: OPEC/non-OPEC JMMC Meeting preview - Citi

Dhwani Mehta FXStreet

Analysts at Citi out with their take on today’s OPEC/non-OPEC Joint Ministerial Monitoring Committee (JMMC) Meeting.

Key Quotes:

“Oil markets are persistently misunderstanding this Friday's meeting of the OPEC JMMC in Vienna, confusing it with an OPEC ministerial meeting and expecting decisions related to whether the producer group plus Russia and other non- OPEC countries will extend and/or deepen their output cuts.

Little could be further from reality.

The producers will be discussing scenarios to be considered at future meetings and the JMC will be doing what their name says: monitoring compliance.

Their task won't be a surprise since the findings have already been compiled by the JTC, which was able to see a drop in August OPEC output.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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