Algeria Engages in Oil Market Talks

Algerian Oil Minister Mohamed Arkab confirmed Algeria’s participation in the Consultative Meeting of OPEC and non-OPEC Oil Ministerial Meeting within the framework of the Cooperation Declaration (OPEC+), held in Riyadh on the sidelines of Energy Week. The meeting focused on discussing developments in the global oil market and the impact of maritime and logistical tensions on market stability and supply security. The ministers praised the joint efforts to achieve stable oil markets, emphasizing the importance of safeguarding maritime corridors to ensure the smooth flow of supplies, especially amid rising transportation and insurance costs that affect supply chains and increase pressures on the global economy. The ministers increased coordination and oversight to enhance market stability and protect supply security, with Algeria reaffirming its commitment to continue dialogue with its OPEC+ partners.

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