14 Hrs
Source:
AL24 News
OPEC Sec-Gen: Algeria's role in OPEC+ cooperation
The article focused on Algeria's historic role in strengthening the stability of the global oil market through the Algiers Agreement reached ten years ago, which contributed to rebalancing the market after a period of volatility. The text explains that this agreement served as a starting point for the establishment of the OPEC+ alliance, which enhances cooperation among oil-producing countries and aims to support price stability and coordinate production. The report also confirms that the agreement helped maintain reasonable levels of global reserves and succeeded in overcoming market challenges such as falling prices and decreasing investments. It is expected that cooperation among producing countries will continue, especially as the demand for oil is projected to increase by 2050 to 124 million barrels per day, driven by global economic growth and the expansion of developing countries.
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