Algeria participated on Sunday, via remote conferencing, in the various ministerial meetings held under the framework of the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ cooperation agreement, the Algerian Ministry of Hydrocarbons and Mines said in a statement.
The 192nd OPEC Conference, which brought together ministers and representatives of the organization’s twelve member countries, was dedicated to evaluating various aspects related to the management and operations of the Secretariat. The discussions focused on the Secretariat’s activities during the current year and the year ahead, as well as the organization’s strategic priorities and medium- to long-term prospects, the statement said.
In the same context, Algeria participated in the 63rd meeting of the Joint Ministerial Monitoring Committee (JMMC). Representatives of the member countries on the committee—which include Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela from OPEC, as well as Kazakhstan and Russia from non-OPEC participating countries—assessed the level of compliance of OPEC+ countries with their voluntary production cut commitments during September and October 2025. The committee praised the ongoing efforts of the participating countries, emphasizing that strict adherence to collective decisions remains a crucial factor in maintaining the stability of the global oil market, the source added.
Following this session, Algeria participated in the 40th OPEC/non-OPEC ministerial meeting, dedicated to analyzing the current state of the oil market and its short- and medium-term outlook. The 22 OPEC+ member countries reaffirmed their commitment to continuing joint efforts to support the balance of the global market. They also approved a new mechanism for assessing the sustainable production capacities of OPEC+ countries, which will serve as the basis for determining reference production levels starting in 2027.
In conclusion, Algeria participated in a meeting with the eight countries engaged in voluntary production adjustments, alongside Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia. The participants reaffirmed the decision taken in early November to implement a collective increase of 137,000 barrels per day for December 2025, of which 4,000 barrels per day are allocated to Algeria, in addition to suspending production increases from January to March 2026. The eight countries also reiterated their commitment to maintaining a high level of coordination and continuous monitoring of developments in the global oil market, the statement concluded.
