Opec+: Deal to increase production by 400,000 b/d from next August

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The 19th Ministerial Meeting Opec/Non-Opep (Opec+), held by teleconferencing, led to the decision to increase production by 400,000 barrels per day, from next August, said the Minister of Energy and Mines, Mohamed Arkab.

In a statement to the press at the end of the meeting, Mr. Arkab said that the decision to increase production came “following strong positive market indications, including the recovery of demand and the increasing number of vaccination operations in the world.

According to the Minister, the quota of Algeria under the increase decided next August for the benefit of 23 countries, amounts to 14,000 B / D.

In addition, the Minister also said, the meeting resulted in the extension until December 31, 2022 of the agreement of the Declaration of Cooperation (DoC) agreed at the Ministerial Meeting of Opec+ countries in April 2020. The agreement was originally to be extended until April 2022.

ENTV

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