Arkab participe samedi aux travaux de la 59e réunion du JMMC
Summary of the Content Regarding the OPEC+ Meeting
On Saturday, the Algerian Minister of State for Energy, Mines, and Renewable Energy, Mohamed Arkab, will participate via videoconference in the 59th Joint Ministerial Monitoring Committee meeting of OPEC and non-OPEC countries (JMMC). The meeting will involve oil ministers from nine participating countries: Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Nigeria, Russia, and Venezuela.
Key topics for discussion during the meeting will include monitoring the compliance levels of member countries regarding agreed production cuts for January and February 2025. This follows the commitments made by OPEC+ members aimed at stabilizing the global oil market.
Participants will analyze recent developments in the global oil market, focusing on supply and demand forecasts for the coming weeks. The discussions will also highlight various factors affecting market balance, emphasizing the importance of sustaining oil market stability.
In a related decision, eight OPEC+ member countries, including Algeria, agreed to adjust their oil production by an increase of 411,000 barrels per day for May. This move is intended to reinforce ongoing support for the stability of oil markets.
Overall, the upcoming JMMC meeting is expected to play a crucial role in shaping strategies that ensure adherence to production cuts and maintain equilibrium in the global oil market.
