Algeria to Raise Crude Output in July: OPEC+

Algeria will increase its crude oil production by 8,000 barrels per day in July, as part of the plan for progressive lifting of voluntary reductions applied for two years by eight member countries of the OPEC+ alliance.

According to a statement published by the Algerian Ministry of Energy, Mines and Renewable Energy, this decision is part of the common strategy aimed at accompanying the recovery of global demand for hydrocarbons, particularly during the summer period.

“Algeria’s crude oil production will register an additional increase of 8,000 barrels per day, next July. This increase aims to respond to the anticipated progression of external demand for crude oil and petroleum products, particularly during summer,” said the ministry.

This increase “will also allow to support gradual commissioning of newly developed oil fields, thereby contributing to better utilization of national resources,” the source added.

The decision follows the meeting held this Saturday, via videoconference, between the ministers of the eight OPEC+ countries having implemented voluntary reductions of their production since April 2023, with the participation of the Minister of State, Minister of Energy, Mines and Renewable Energy, Mohamed Arkab.