Algiers, Algeria – Algeria has reaffirmed its unwavering commitment to the decisions made by OPEC+, emphasizing the importance of collective action in maintaining stability in the global oil market.
The reaffirmation came during a virtual meeting of the G8 nations within the OPEC+ framework, which includes Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia. Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, represented Algeria at the meeting held on Sunday, January 4, 2026.
The meeting served as a platform for a routine review of the global oil market’s evolution and to bolster coordination among the nations participating in the Declaration of Cooperation. The Chief Executive Officer of Sonatrach, Nordine Daoudi, and the President of the National Agency for the Valorization of Hydrocarbon Resources, Samir Bakhti, were also present, along with other ministry officials.
Ministers engaged in discussions concerning the short-term outlook for the oil market, acknowledging the prevailing international economic uncertainties and a slight decrease in the pace of seasonal demand. They also addressed the latest developments in market fundamentals and forecasts for the coming months.
Minister Arkab emphasized the need for heightened vigilance and sustained coordination within the G8 group and with other nations involved in the Declaration of Cooperation. He underscored Algeria’s full commitment to the collective decisions made, characterizing them as balanced and appropriate for the current market conditions.
“Maintaining the credibility and effectiveness of the OPEC+ cooperation mechanism is crucial,” Minister Arkab stated, highlighting its role as a cornerstone in ensuring the stability of the global oil market.
Participants concluded the meeting by reiterating their commitment to continued regular consultations and to acting responsibly and proactively to foster market equilibrium and maintain price stability in the future.