Algeria and seven other countries in the OPEC+ alliance confirmed on Sunday their decision taken last November to suspend any increase in production levels until March 2026, to contribute to maintaining market stability for the benefit of producers and consumers, according to a statement by the Ministry of Hydrocarbons and Mines.
This decision was confirmed during a coordination meeting using videoconference technology between the eight countries involved in the voluntary adjustments to production within the framework of OPEC+ (the Organization of the Petroleum Exporting Countries and its allies outside the organization), which are Algeria, the Kingdom of Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, the Sultanate of Oman and Russia, according to the same source.
The ministerial meeting was devoted to following up on the implementation of evaluation and monitoring mechanisms for the decisions of the countries participating in the OPEC+ Declaration of Cooperation. The meeting concluded with the member states’ confirmation of maintaining the suspension of any increase in production levels until March 2026, renewing 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.”
The ministry’s statement stressed that maintaining production levels during the first three-quarter of the year is a decision that 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,” adding that “this cautious and proactive approach contributes to maintaining market balances, in a way that serves the interests of producers and consumers alike.”
Algeria also participated, according to the statement, in the work of the 64th meeting of the Joint Ministerial Monitoring Committee, and representatives of the member states of the committee, namely Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, 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 adherence to collective decisions remains a crucial element in maintaining the stability of the global oil market,” the statement adds.
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