ALGIERS – Thursday, 31 March 2022 (APS) – Algeria will increase its daily oil production by 11,000 barrels in May, the Ministry of Energy and Mines said Thursday in a statement.
Algeria’s oil production will increase from 1002 million barrels per day in April to 1013 million barrels per day in May, in accordance with the decisions of the 27th ministerial meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), held on Thursday by Videoconference with the participation of Minister of Energy and Mines Mohamed Arkab.
After this meeting, it was decided to increase the monthly overall production of the alliance, bringing together 23 oil producing countries, by 432,000 barrels per day for May 2022.
Arkab participated also in the 39th meeting of the Joint Ministerial Monitoring Committee (JMMC) devoted to the examination of the situation of the international oil market and its evolution prospects in the short term as well as the assessment of the level of compliance with production cut commitments by the countries of the OPEC+.
JMMC noted with satisfaction that “the overall compliance rate had reached 132% in February 2022,” said the source.