ALGIERS – Algerian Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, participated on Saturday via video conference in a ministerial meeting involving eight OPEC+ countries that have been voluntarily adjusting their oil production levels since April 2023, the Algerian ministry said in a statement.
The meeting was dedicated to exchanging views on the latest developments in the global oil market and exploring its short-term outlook, with a particular focus on monitoring the implementation of commitments related to voluntary production cuts, as well as mechanisms to compensate for discrepancies caused by recorded production surpluses, the statement said.
The participants agreed to implement a gradual and collective increase in production levels, amounting to 548,000 barrels per day during August 2025, the source added.
In this context, Algeria’s crude oil production quota will increase by 12,000 barrels per day starting in August.
