Algiers, January 4, 2026 – Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkoub, participated in a virtual coordination meeting with eight key nations within the OPEC+ framework. The meeting focused on the outlook for the global oil market.
The nations involved in the discussion included Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia.
According to a statement from the Ministry, this meeting is part of the “regular monitoring of the global oil market situation and the strengthening of coordination between the eight countries participating in the OPEC+ Declaration of Cooperation, which are implementing voluntary adjustments to their production levels.”
During the meeting, ministers engaged in an “in-depth exchange on the prospects for the oil market in the short term, in the context of an international economic situation characterized by uncertainty, a seasonally moderate level of demand, recent developments in market fundamentals, and their prospects in the coming months.”
Arkoub emphasized the importance of exercising greater vigilance and strengthening close coordination both within the group of eight countries and with all countries participating in the Declaration of Cooperation.
He reaffirmed Algeria’s commitment to the collective decisions taken, which he considered consistent and appropriate to the current market conditions, while emphasizing the need to maintain the effectiveness and credibility of the cooperation mechanism. He reiterated Algeria’s commitment to the collective decisions taken.
At the conclusion of the meeting, the participants reaffirmed their commitment to continuing consultations on a regular basis and to working responsibly and proactively to serve the stability of the global oil market.
The meeting was attended by the CEO of Sonatrach, Noureddine Daoudi, and the President of the National Agency for the Valorization of Hydrocarbon Resources, Samir Bakhti, as well as executives from the Ministry.
