Algeria’s oil production will exceed next April one million barrels per day (bpd), up 10,000 bpd compared with March, the minister of Energy and Mines said Wednesday in Algiers.
In a statement to the press on the sidelines of the 26th OPEC-non-OPEC ministerial meeting (OPEC+), in which he participated by videoconference, Mr. Arkab revealed that “Algeria’s oil production will reach 1,002,000 mb/d next April.”
This increase is part of the application of the OPEC+ decision at its 26th OPEC-non-OPEC (OPEC+) ministerial meeting bringing an overall increase of 400,000 mb/d next April.
“The signatory countries of the OPEC+ cooperation declaration have decided to continue the overall increase by injecting an additional 400,000 mb/d into the market next April,” said Mr. Arkab.
Mr. Arkab took part, this Wednesday, by videoconference in the works of the 26th OPEC-non-OPEC ministerial meeting (OPEC+).
The Minister of Energy and Mines also took part in the work of the 38th meeting of the Joint Ministerial Monitoring Committee (JMMC).
These two meetings were devoted to “the examination of the situation of the international oil market and its short-term development prospects as well as the assessment of the level of compliance with the commitments to reduce production during the month of January 2022”.
The compliance rate reached 129% last January, revealed Mr. Arkab.
The energy ministers of the OPEC+ countries have decided to meet again on March 31.
