Economy

Minister of Energy participates tomorrow, Monday, in 21st ministerial meeting of OPEC+

The Minister of Energy and Mines, Mohamed Arkab, will participate, tomorrow, Monday, in the work of the 21st ministerial meeting of OPEC and non-OPEC countries (OPEC +), which will be held via videoconferencing technology, according to a ministry press release issued today.

The press release indicated that this meeting, which includes 23 countries (13 OPEC countries and 10 non-OPEC members) that signed the cooperation declaration, “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.”

Mr. Arkab will also participate, on the same day, in the work of the 33rd meeting of the Joint Ministerial Monitoring Committee (GMMC), which will have to assess, on the basis of the report of the Joint Technical Committee, the current short-term oil market conditions.

This committee will also assess the level of compliance with the production adjustment obligations of the countries that signed the cooperation declaration for the month of August.

For reference, the Inter-Ministerial Committee of the OPEC member countries consists of Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, Venezuela and two non-OPEC countries, Russia and Kazakhstan.

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