ALGIERS – Sunday, 04 June 2023 (APS) – Algeria will extend the voluntary reduction by 48,000 barrels of oil production a day until late December 2024, in coordination with the members of the Organization of Petroleum Exporting Countries and its Allies (OPEC+), the ministry of Energy and Mines said in a statement.
“Algeria will extend the voluntary reduction by 48,000 barrels of oil output a day until late December 2024, as a precaution, in coordination with the countries that are part of OPEC+ agreement, which had announced voluntary reductions last April,” the statement said.
The voluntary reduction was agreed upon in the 35th ministerial meeting of OPEC+ of June 4th, 2023, held in the presence of the minister of Energy and Mines, Mohamed Arkab, according to the statement.