1- Reaffirm the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12 April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on 18 July 2021.
2- Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the table, noting that the upward adjustment of 0.1 mb/d to the production level was intended only for the month of September 2022.
3- Request the Chairman to consider calling for an OPEC and non-OPEC Ministerial Meeting anytime to address market developments, if necessary.
4- Reiterate the critical importance of adhering to full conformity and to the compensation mechanism. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting.
5- Hold the 33rd OPEC and non-OPEC Ministerial Meeting on 5 October 2022.
About OPEC
In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers a fair return on capital for those investing in the petroleum industry.
