ALGIERS – Wednesday, 05 October 2022 (APS) – Algeria’s oil production will stand at 1.007 million barrels per day (Mb/d) from next November, said Wednesday the Ministry of Energy and Mines in a statement.

This production threshold was set under the implementation of the decision taken today at the 33rd OPEC-Non OPEC Ministerial Meeting (OPEC+) held in Vienna. Arkab attended the event, said the source.

During this 33rd ministerial meeting, preceded by the 45th Joint Ministerial Monitoring Committee (JMMC), the OPEC + countries agreed to lower their production by 2 million barrels per day from November 1st, said the ministry.

“The ministers considered the current situation of the oil market, its short-term outlook as well as OPEC+ member countries’ production levels in August,” the ministry said.