17 Hrs
Source:
الجمهورية
Algeria's OPEC Deal Marks Key Shift
The Organization of Arab Petroleum Exporting Countries (OAPEC) affirmed that the Algeria Agreement approved by the Organization of the Petroleum Exporting Countries (OPEC) represents a strategic turning point in the global oil market, establishing a new approach to managing long-term oil challenges. The Secretary-General of the organization, Khalid Al-Atiibi, clarified that the agreement was not a temporary response to falling prices but rather a shift in the way producing countries cooperate, based on dialogue, trust, and shared responsibility. Over the past decade, the OPEC+ alliance has demonstrated its ability to address challenges by monitoring supply and demand, evaluating reserves, and implementing appropriate measures. This has helped build a more balanced and sustainable market, safeguarding supply security and the global economy from sharp fluctuations.
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