Algiers – Algeria, along with seven other nations within the OPEC+ alliance, has agreed to a collective increase in oil production of 137,000 barrels per day, commencing this December. This decision was reached during a meeting held earlier today.
However, subsequent to this initial increase, the participating countries have committed to freezing any further incremental production increases throughout the first quarter of 2026. This freeze will be in effect from January 1st to March 31st, 2026.
The decision reflects a cautious approach to managing global oil supply and demand, aiming to maintain market stability in the face of ongoing economic uncertainties. The initial production increase is intended to address immediate demand, while the subsequent freeze is designed to prevent oversupply during the first three months of the new year.
DZWatch understands that this agreement underscores Algeria’s commitment to collaborating with its OPEC+ partners in ensuring a balanced and predictable energy market. The decision to freeze production increases demonstrates a willingness to prioritize long-term stability over short-term gains.
The impact of this decision on global oil prices remains to be seen, but analysts suggest that it is likely to be viewed favorably by market participants seeking greater predictability. DZWatch will continue to monitor developments and provide updates as they unfold.
The other nations involved in this agreement were not immediately disclosed, but further details are expected to emerge in the coming days. The OPEC+ alliance will likely issue a formal statement outlining the specific contributions of each participating country.
