The 39th OPEC and non-OPEC Ministerial Joint Meeting has reiterated the organization's continued commitment of OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve a sustainable and stable oil market.

In a communiqué disclosed by OPEC at the end of joint Ministerial Meeting section, It declared that the Participating Countries have decided to reaffirm the Framework of the Declaration of Cooperation, signed on 10 December 2016 and further endorsed in subsequent meetings and the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC as agreed in the 38th OPEC and non-OPEC Ministerial Meeting until 31 December 2026. The section also reaffirmed the mandate of the Joint Ministerial Monitoring Committee (JMMC) to closely review global oil market conditions, oil production levels, and the level of conformity with the DoC, assisted by the OPEC Secretariat. The JMMC meeting is to be held every two months, and the JMMC’s authority to hold additional meetings, or to request an OPEC and non-OPEC Ministerial Meeting at any time to address market developments, whenever deemed necessary. 

The section reiterated the critical importance of adhering to full conformity and the compensation mechanism. It further mandated the OPEC Secretariat to develop a mechanism to assess participating countries' maximum sustainable production capacity (MSC) to be used as a reference for 2027 production baselines for all DoC countries.

Reaffirming this commitment is the Nigerian Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, via his official social media X handle. The Honourable Minister emphasized his support for the efforts of OPEC and Non-OPEC members in achieving a robust and sustainable oil price capable of balancing the global economy equitably.

With an emphasis on Nigeria’s bold pursuit of ramping up its crude oil production, Sen Lokpobiri stated that such a sheer ambition is in line with the ambient regulations guiding the organization, not in contrast, but a reflection of Nigeria's strategic pursuit of interest within the parameters of the DoC.

“At the 39th OPEC and non-OPEC Ministerial Meeting and 60th JMMC meeting, I reaffirmed our commitment to the Declaration of Cooperation (DoC) framework, as we continue to support every effort aimed at achieving and sustaining a stable and balanced oil market, in line with the collective decisions taken.

‘Nigeria remains fully aligned with the agreed production levels and strongly upholds the critical importance of full conformity, as emphasized during the meeting. While we are actively driving to ramp up production, this ambition is not in contradiction with OPEC’s maximum sustainable production capacity (MSC).

‘It is a reflection of our strategic pursuit of national interest within the parameters of the DoC, and we will continue working collaboratively within OPEC, ensuring our production goals enhance market stability and long-term energy security,” Senator Lokpobiri stated. 

The 40th OPEC and non-OPEC Ministerial Meeting is to be held on 30 November 2025.