Algeria participated, today, Sunday, via videoconference technology, in the ministerial meetings dedicated to following up on the implementation of evaluation and follow-up mechanisms for the decisions of the countries participating in the Declaration of Cooperation (OPEC+), according to a statement by the Ministry of Hydrocarbons and Mines.
The ministry explained in its statement that Algeria participated in the coordination meeting that included the eight countries involved in voluntary adjustments to production, along with representatives of the Kingdom of Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, the Sultanate of Oman, and Russia.
At the conclusion of these consultations, the member states of the group confirmed the decision taken last November, to suspend any increase in production levels until March 2026. They also renewed their commitment to strengthening close coordination between the eight countries, stressing the importance of continuous and accurate monitoring of developments in the global oil market.
Maintaining production levels during the first trimester of the year is fully consistent with the current market conditions, and reflects the spirit of responsibility and credibility of the OPEC+ countries, in a context characterized by seasonal factors. This cautious and proactive approach contributes to maintaining market balances, in a way that serves the interests of producers and consumers alike.
According to the statement, Algeria subsequently participated in the work of the sixty-fourth (64th) meeting of the Joint Ministerial Monitoring Committee (JMMC), and representatives of the member states of the committee, namely Algeria, the Kingdom of Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela, along with Kazakhstan and Russia, evaluated the level of compliance of OPEC+ countries with their obligations related to voluntary production cuts during the months of November and December. 2025.
At the conclusion of this evaluation, the committee praised the continuing efforts made by the participating countries, stressing at the same time that strict and continued commitment to collective decisions remains a crucial element in maintaining the stability of the global oil market.
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