Guitouni: Extension of OPEC agreement, “strong signal” for global oil market

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The decision taken, last Thursday, in Vienna, by the Organization for the Petroleum Exporting Countries (OPEC) and non-OPEC members, including Russia, to extend their production level until the end of 2018, will be “a strong signal” for the global oil market said, Sunday, in Algiers, the minister of Energy, Mustapha Guitouni.

“This is a good decision made by OPEC member and non-member producers, as this will, at least, allow prices to stay at their current level”, he told reporters on the sidelines of the inauguration of a fuel equipment project.

“I hope that this decision can give a strong signal to the world oil market”, he continued, calling on the countries concerned to respect their quota set by the December 2016 agreement.

 

Samira SALAH

APS

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