Oil ministers of OPEC and non-OPEC producers to meet in Russia tomorrow - Reuters

Kuwait's oil minister on Friday said that oil ministers of OPEC and non-OPEC producers are set to meet in Saint Petersburg in Russia tomorrow to assess conformity with a recent output cut resolution, as reported by Reuters.

Key takeaways:

• They will look into a report of the Joint OPEC-Non-OPEC Technical Committee (JTC), a technical sub-committee of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC), on the compliance of OPEC and non-OPEC members with output cut levels for June 2017

• The committee will also review during the meeting an OPEC report on the situation of the global oil market in June, in addition to more relevant suggestions by member states, added Al-Marzouq, who doubles as Minister of Electricity and Water.

• At the end of the meeting, the JTC will send a report to member states on the outcomes of Saint Petersburg meeting, mainly proposals and recommendations.