OPEC+: Algeria’s output to spike to 982,000 b/d in February

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ALGIERS- Algeria’s oil output will increase by 10,000 barrels/day in February to reach 982,000 barrels/day, following the decisions of the 24th OPEC and non-OPEC Ministerial Meeting (ONOMM), announced, Tuesday, the Minister of Energy and Mines, Mohamed Arkab.

The Organization of Petroleum Exporting Countries and its allies, referred to as “Opec +”, decided during the 24th OPEC and non-OPEC Ministerial Meeting (ONOMM), held by videoconference, to increase oil output by 10,000 barrels/day in February to reach 982,000 barrels/day in accordance with the monthly increase plan decided in July 2021.

“We have been very attentive to recent developments which could impact the stability and balance of the international oil market, in particular the wave of contamination with the Omicron variant affecting many industrialized countries”, explained Mr. Arkab to the press.

Regarding the overall compliance rate with the production levels decided by OPEC + last month, it reached 117%, according to Mr. Arkab.

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