Arkab Participates in OPEC and Non-OPEC Joint Ministerial Meeting
Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, participated here on, Wednesday, via videoconference, in the 62nd meeting of the Joint Ministerial Monitoring Committee (JMMC) of the signatories to the Declaration of Cooperation.
The committee meets bimonthly and is tasked with monitoring the implementation of the voluntary production adjustments agreed upon under the Declaration of Cooperation, providing the necessary recommendations to support the stability and balance of the global oil market.
The committee includes oil ministers from nine OPEC member countries, including Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela, as well as non-OPEC members Russia and Kazakhstan.
The meeting was devoted to assessing the level of compliance with the production agreements for July and August 2025, examining the current state of the global oil market and exchanging views on its short-term prospects.
Algeria is moving toward restoring its oil production level of 1 million barrels per day after a period of voluntary cuts, with the government planning monthly increases of 4,000 barrels per day starting this October.
