l’Algérie et sept autres pays accélèrent de nouveau l’augmentation de leur production pétrolière
On Saturday, Algeria, alongside seven other countries in the OPEC+ alliance, decided to expedite the gradual lifting of voluntary production cuts that have been in place for two years. This decision was made during a virtual ministerial meeting that gathered the eight nations that had agreed to voluntary production reductions in April 2023: Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia.
The meeting, which included Algeria’s Minister of State for Energy, Mines, and Renewable Energies, Mohamed Arkab, concluded with a collective agreement to increase their production by 411,000 barrels per day for July 2025. According to an official OPEC statement, this decision is based on a stable global economic outlook and solid market fundamentals, evidenced by low levels of global crude oil stocks.
In a previous meeting on March 3, 2025, the member countries had agreed to a gradual return to their voluntary reductions of 2.2 million barrels per day starting April 1, 2025, through monthly increases until the end of 2026. However, a subsequent decision made on May 3 accelerated this timetable by three months. This measure is intended to bolster market stability and expedite compensatory efforts for the concerned countries.
The announced increase of 411,000 barrels per day in July 2025 reflects three cumulative monthly increases, which means that production quotas originally set for January 2026 will now be implemented in July 2025. According to the communiqué, Algeria’s production is expected to rise to 936,000 barrels per day next July, eventually reaching 1.007 million barrels per day by July 2026.
The eight countries emphasized that these increases may be suspended or revised based on market conditions. Lastly, the ministers agreed to hold monthly meetings to assess market developments, adherence to production commitments, and compensation status. The next meeting is scheduled for July 6, 2025.
