BANDAR SERI BEGAWAN: Brunei Darussalam has underscored its commitment to ensuring stability, transparency, and long-term sustainability in the global oil market during the 40th Opec and Non-Opec Ministerial Meeting (40th ONOMM) held virtually on Nov 30, 2025.
Minister at the Prime Minister’s Office and Minister of Defence II Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Awang Halbi Mohd Yussof, also serving as the Minister in charge of Energy, represented Brunei in the meeting, joined by Deputy Minister (Energy) at the Prime Minister’s Office Dato Seri Paduka Awang Muhammad Azmi Mohd Hanifah and also Acting Permanent Secretary (Fiscal I), Ministry of Finance and Economy Awang Asrul Adrain Dr Awang Ahmad.
During the virtual meeting, Opec and non-Opec participating countries reaffirmed their long-standing commitment under the Declaration of Cooperation (DoC) to maintain a stable and balanced global oil market.
The session reiterated the continuation of current crude oil production levels until the end of 2026 and reinforced the role of the Joint Ministerial Monitoring Committee (JMMC) in monitoring market conditions and member compliance.
The JMMC will continue meeting every two months and may convene additional sessions if market developments demand immediate action.
The meeting also endorsed a new mechanism to assess maximum sustainable production capacity, which will guide the 2027 production baselines.
Participants reaffirmed the Charter of Cooperation (CoC) and requested the OPEC Secretariat to translate it into concrete programmes ahead of the next ministerial meeting, scheduled for June 7, 2026.
The countries in the DoC also agreed to extend overall crude oil production levels for Opec and non-Opec members as previously set in the 35th Ministerial Meeting until Dec 31, 2026, while emphasising adherence to the full conformity and compensation mechanisms.
The 41st ONOMM is scheduled to take place in Vienna, Austria, on June 7, 2026. - Borneo Bulletin/ANN
