The Joint Ministerial Monitoring Committee (JMMC) comprises Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela, called for protecting international maritime routes and energy infrastructure to safeguard global energy supply security and support market stability.

During its 68th meeting, the Committee reviewed market conditions and July-August 2026 crude oil production data, noting overall conformity among OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).

The JMMC also warned that attacks on energy infrastructure and disruptions to maritime routes could increase market volatility and undermine efforts to stabilize global energy markets.

Maritime disruptions have increasingly threatened global energy flows, particularly through the Strait of Hormuz and the Red Sea. The Strait of Hormuz typically handles around 20% of global crude oil and LNG supplies, while attacks and security concerns have forced some vessels to avoid the waterway or use alternative routes.

On October 5, crude exports through the Strait of Hormuz had recovered to 14.2 million barrels per day (mmbbl/d), nearly 80% of pre-war levels, but rising tanker rates, insurance costs, and security risks continued to disrupt energy logistics, according to Reuters.

The Committee will continue monitoring production compliance, with its next meeting scheduled for November 29, 2026.

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