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AL24 News
Haitham Al-Ghais Calls Algiers Agreement Historic
The Secretary-General of OPEC, Dr. Haitham El-Ghais, praised the historic role played by Algeria in the success of the "Algiers Agreement," which marks its tenth anniversary today. He explained that the agreement represented a turning point in the cooperation among oil-producing countries. Launched from Algeria, the agreement contributed to the establishment of the "OPEC+" alliance, which includes, in addition to the organization, ten countries outside of it. This strengthened the cohesion and stability of the oil market. He emphasized that Algeria made an important diplomatic contribution by urging countries to join this alliance, and that the agreement created mechanisms for monitoring production and market stability, whose results are still evident to this day. He pointed out that OPEC remains strong through the unity of its members, and that Algeria has played a pivotal role in the organization's history, including hosting the 1975 summit, which led to the founding of OPEC's International Development Fund. He also stressed the need to maintain the stability of oil markets, address attacks on energy facilities, and keep the discussion about the future of energy realistic. He reaffirmed that oil still accounts for more than 30% of the global energy mix, and that all energy sources should be utilized pragmatically, encouraging genuine dialogue away from ideologies.
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