OPEC Confirms Decision to Increase Production By 137,000 Barrels Per Day For December
The Organisation of the Petroleum Exporting Countries (OPEC) and the Declaration of Cooperation (OPEC+) held several ministerial meetings on Sunday, November 30, in which Algeria participated via videoconference.
According to the Ministry of Hydrocarbons and Mines, the 192nd OPEC Conference, which brought together ministers and representatives from the organisation’s 12 member countries, was dedicated to discussing the Secretariat’s work over the current and upcoming years, as well as the organisation’s strategic priorities and medium- and long-term prospects.
Algeria also participated in the 63rd meeting of the Joint Ministerial Monitoring Committee (JMMC), where representatives of the committee’s member countries—Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela from OPEC, as well as Kazakhstan and Russia from non-OPEC participating countries—assessed the level of compliance of OPEC+ countries with their commitments regarding voluntary production cuts during September and October 2025.
Following this session, Algeria participated in the 40th OPEC/non-OPEC Ministerial Meeting, dedicated to analysing the current state of the oil market and its short- and medium-term prospects.
The 22 OPEC+ countries reaffirmed their commitment to continued joint efforts to support global market stability. They also approved a new mechanism for assessing the sustainable production capacity of OPEC+ member countries, which will serve as the basis for determining reference production levels starting in 2027.
Algeria also participated in a meeting that included the eight countries involved in the voluntary production adjustments, along with Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia.
During the meeting, the participants confirmed the decision taken at the beginning of November, which stipulates a collective increase of 137,000 barrels per day for December of this year, of which 4,000 barrels per day are allocated to Algeria, in addition to suspending production increases during the period between January and March 2026.
