Oil: Opec+ approves further increase of 400,000 barrels/day in October

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ALGIERS- OPEC and non-OPEC countries (OPEC+) approved, Wednesday, the continuation of the upward adjustment, for next October, of their monthly global production of 400,000 barrels/day, agreed upon at their 19th ministerial meeting from last August, said the Minister of Energy and Mines, Mohamed Arkab.

Participating, via video conference, in the work of the 32nd meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 20th Ministerial Meeting OPEC-Non OPEC, Mr. Arkab announced that Algeria’s production will be 932,000 barrels / day and 942,000 barrels / day respectively in September and October 2021, said a statement from the Ministry.

It was also decided that the next ministerial meeting of OPEC and non-OPEC countries will be held on October 4.

JMMC noted with satisfaction that overall compliance reached 110 percent in July, according to the release.

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