Economy

Arkab participates tomorrow, Thursday, in 22nd OPEC + ministerial meeting

The Minister of Energy and Mines, Mohamed Arkab, will participate, tomorrow, Thursday, in the work of the 22nd ministerial meeting of OPEC and non-OPEC countries (OPEC +), which will be held via videoconferencing, according to a ministry statement today.

This meeting, which includes 23 countries (13 OPEC and 10 non-OPEC) signatories to the declaration of cooperation, will be devoted to the recent developments observed on the international oil scene and the measures that must be taken to support the balance and stability of the oil market, the same source adds.

On the same day, Mr. Arkab will also participate in the 34th meeting of the Joint Ministerial Monitoring Committee (GMMC), which will assess, on the basis of the report of the Joint Technical Committee, the current short-term oil market conditions, as well as the level of compliance with the production adjustment obligations of countries signatory of the Declaration of Cooperation, for the month of August 2021.

It is worth noting that the joint ministerial committee among the member states of the Organization of the Petroleum Exporting Countries is made up of: Algeria, the Kingdom of Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, Venezuela, and two non-OPEC countries, namely Russia and Kazakhstan.

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