Algerian Oil prices fell by more than nine dollars during one month

Monthly average of the Algerian oil prices declined during the month of last October by more than nine dollars to reach $ 87.61 a barrel, as revealed by the Organization of Petroleum Exporting Countries “OPEC” on Wednesday, in its monthly report.

OPEC Data revealed – as quoted by APS- that the rate of Algerian crude oil prices moved from $ 97.10 per barrel in September to $ 87.61per barrel, a decline of $ 9.41, as this comes in parallel with the overall decline in oil prices in the last month, as the overall decline comesin parallel with the price of “OPEC” by $10.92 to $85.06 per barrel.

Although these data, OPEC report showed that the crude of Algerian deserts “Algerian Oil” is the best price among all the organizationcrudes, expecting in the same context that 2014 will end at an annual price of $105.12 per barrel, decreasing nearly to four dollarscompared to last year in 2013, which recorded a rate of $109.08 per barrel.

Same report indicates a slight decrease to 8,000 barrels per day, in the size of Algeria’s oil production over the past month, reaching up to1.175 million barrels per day in October, compared to 1.183 million barrels per day in September, and this is based on the Algerian officialdata.

In the same context, the Algerian oil industry noticed in recent years stabilility in production at the limits of 1.2 million barrels per day, asAlgeria is considered the third exporter for the United States of crude oil in October after both Canada and Russia, as it exported about 38.000 barrels per day to the largest economy in the the world. 

In the face of these developments, “OPEC” will hold an emergency meeting at its headquarters in Vienna to study its political productivity in light of the deterioration in the price of all oil-producing countries.