Minister Arkab participates in OPEC meeting to evaluate compliance with production cut levels

ALGIERS – Algerian Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, took part on Saturday in the 59th meeting of the Joint Ministerial Monitoring Committee (JMMC) for OPEC and non-OPEC countries, held via videoconference, the Algerian ministry said in a statement.

Accompanying him were Rashid Hachichi, CEO of Sonatrach, and Morad Beldjehem, the President of the National Agency for Hydrocarbon Resources Valorization, along with several senior officials from the ministry, the statement said.

This meeting was focused on evaluating the commitment of the involved countries to the agreed production cut levels for January and February 2025. It also provided a platform for ministers to exchange insights and analyses regarding the global oil market’s current state and its outlook for the short- and medium-term future, the source added.

According to the statement, the committee members continue to closely monitor developments in the global oil market, reaffirming their full commitment to addressing emerging challenges and changes. They also emphasized the importance of ongoing consultation and coordination among member countries to ensure the effective implementation of the joint measures within the OPEC+ framework.