Algerian Minister of State for Energy, Mohamed Arkab, participated in the ministerial meetings of the OPEC+ group and the Joint Ministerial Monitoring Committee (JMMC) via video conference on October 4, 2026. The meetings aimed to review the implementation of decisions taken within the framework of the Declaration of Cooperation. Arkab was joined by his counterparts from Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman, and Russia, as well as senior officials from Algeria's energy sector.
During the meetings, the participants discussed the current state of the global oil market and agreed to extend the overall production levels of the seven countries for November 2026 without any changes. As a result, Algeria's oil production will remain steady at 1.007 million barrels per day for the same month. The decision was made in light of recent developments in the global oil market.
The OPEC+ group consists of major oil-producing countries that have implemented voluntary production adjustments. The meeting was attended by senior officials, including the CEO of Algeria's state-owned energy company, Sonatrach, and the head of the National Agency for the Valorization of Hydrocarbon Resources. The participants emphasized the importance of cooperation and stability in the global oil market.
In addition to the OPEC+ meeting, Arkab also participated in the 68th meeting of the JMMC, which brought together representatives from Algeria, Saudi Arabia, Iraq, Kuwait, Nigeria, Venezuela, Kazakhstan, and Russia. The committee assessed the level of compliance of participating countries with their voluntary production adjustments for July and August 2026.
The JMMC evaluated the efforts made by participating countries to ensure the implementation of their commitments and reaffirmed that strict and sustainable compliance with collective decisions is essential for cooperation among participating countries. This cooperation directly supports the stability and balance of the global oil market.
The meetings highlighted the ongoing cooperation between OPEC+ countries to maintain stability in the global oil market. Algeria, as a key player in the energy sector, continues to play an active role in these efforts. The country's commitment to its production levels and cooperation with other major oil producers aims to support market stability.
The participation of Algerian Energy Minister Mohamed Arkab in these meetings demonstrates the country's ongoing engagement with international partners to address global energy challenges. The outcomes of these meetings will likely have implications for the global oil market and the economies of participating countries.
Key points
- Algerian Energy Minister Mohamed Arkab participates in OPEC+ and JMMC meetings to discuss oil production levels and market stability.
- OPEC+ countries agree to extend production levels for November 2026 without changes.
- Algeria's oil production will remain steady at 1.007 million barrels per day in November 2026.
