Algeria participated on Sunday via videoconference in ministerial meetings dedicated to monitoring the implementation of evaluation and follow-up mechanisms for the decisions of countries participating in the Declaration of Cooperation (OPEC+). Algeria also took part in a coordination meeting involving the eight countries engaged in voluntary production adjustments, alongside representatives from Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia.
At the conclusion of these consultations, the member states confirmed the decision made last November to suspend any increase in production levels until March 2026. They also renewed their commitment to strengthening close coordination among the eight countries, emphasizing the importance of continuous and precise monitoring of global oil market developments.
Maintaining production levels during the first quarter of the year is considered fully consistent with current market conditions and reflects the responsibility and credibility of OPEC+ countries. In a context characterized by seasonal factors, this cautious and proactive approach contributes to maintaining market balance, serving the interests of both producers and consumers alike.
Subsequently, Algeria participated in the 64th meeting of the Joint Ministerial Monitoring Committee (JMMC). Representatives from the committee’s member states—Algeria, Saudi Arabia, the UAE, Iraq, Kuwait, Nigeria, and Venezuela, along with Kazakhstan and Russia—evaluated the level of compliance by OPEC+ countries with their voluntary production cut commitments during November and December 2025.
At the end of this evaluation, the committee praised the ongoing efforts of the participating countries, while emphasizing that strict and continuous adherence to collective decisions remains a crucial element in maintaining the stability of the global oil market.
Source: sabqpress
