Algeria has reaffirmed its commitment to the Organization of the Petroleum Exporting Countries (OPEC) and the principles that underpin its activities, including dialogue, consultation, and collective responsibility. The country's Minister of State for Energy and Mining, Mohamed Arkab, met with OPEC Secretary-General Haitham Al Ghais, who was on a working visit to Algeria. The meeting provided an opportunity to discuss developments in the global oil market and the challenges facing the industry.
The meeting between Arkab and Al Ghais focused on the need for continued coordination between OPEC member countries and other oil-producing nations to ensure stability and balance in the global oil market. Algeria emphasized its commitment to OPEC and the cooperation between countries participating in the OPEC+ agreement. The country has played a key role in promoting dialogue and coordination between oil-producing nations, and has continued to support OPEC's efforts to maintain stability in the global oil market.
The 10th anniversary of the Algiers Agreement, signed on September 28, 2016, was also discussed during the meeting. The agreement marked a significant milestone in the cooperation between OPEC member countries and other oil-producing nations, and paved the way for the development of a broader framework for cooperation between OPEC and non-OPEC countries. Algeria's commitment to OPEC and its role in promoting cooperation between oil-producing nations were highlighted during the meeting.
Al Ghais praised Algeria's role in supporting OPEC and promoting stability in the global oil market. He noted that Algeria has a long history of supporting OPEC, dating back to its membership in the organization in 1975. The Secretary-General also highlighted Algeria's role in hosting key meetings, including the first OPEC summit in 1975 and the 2008 Oran meeting.
The visit by Al Ghais to Algeria reflects the strong relations between the two parties, and demonstrates Algeria's continued commitment to OPEC and its role in promoting stability in the global oil market. The meeting also highlighted the need for continued cooperation between OPEC member countries and other oil-producing nations to address the challenges facing the industry.
Algeria's commitment to OPEC and its role in promoting global oil market stability were reaffirmed during the meeting. The country has continued to support OPEC's efforts to maintain stability in the global oil market, and has emphasized the need for continued dialogue and cooperation between oil-producing nations.
The meeting between Arkab and Al Ghais concluded with a reaffirmation of Algeria's commitment to OPEC and its role in promoting global oil market stability. The two parties agreed to continue their cooperation and dialogue on issues related to the global oil market, and to work together to address the challenges facing the industry.
Key points
- Algeria reaffirms its commitment to OPEC and global oil market stability.
