The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, began a working visit to Algeria on September 26, 2026, at the invitation of Minister of Energy and Mining, Mohamed Arkab. The visit, which will last until September 29, holds special significance as it coincides with the 10th anniversary of the historic Algiers Agreement. This agreement, signed on September 28, 2016, marked a crucial phase in enhancing dialogue and cooperation between OPEC member and non-member countries.
The Algiers Agreement led to the establishment of the Declaration of Cooperation (DoC), commonly referred to as "OPEC+," which was adopted in December 2016. This accord laid the groundwork for unprecedented cooperation among major oil producers and fostered a sustainable dialogue aimed at supporting the stability of the global oil market. The visit by Al-Ghais provides an opportunity to reflect on Algeria's role in this agreement and its importance in shaping the current landscape of international oil cooperation.
During his stay in Algeria, Al-Ghais is scheduled to hold meetings with several high-ranking officials, including Minister of Energy and Mining Mohamed Arkab. These discussions are expected to focus on developments in the hydrocarbons sector, prospects for the global oil market, and issues of mutual interest. The meetings underscore the strong relationship between Algeria and OPEC, as well as their shared commitment to dialogue, cooperation, and stability in the international oil market.
The visit by the OPEC Secretary General highlights the quality of relations between Algeria and the organization. It demonstrates their mutual interest in maintaining a stable and cooperative environment in the global oil market. Algeria, as a key player in the oil industry, continues to play an active role in OPEC's efforts to ensure market stability and sustainability.
The Algiers Agreement has been instrumental in promoting cooperation between OPEC member countries and non-members. It has enabled these countries to work together to address common challenges and opportunities in the oil market. The agreement's success is a testament to the benefits of collaborative action in achieving shared goals.
Algeria's hydrocarbons sector has been a significant contributor to the country's economy. The sector's development and future prospects are likely to be a key topic of discussion during Al-Ghais's meetings with Algerian officials. The country's experience and expertise in the oil industry make it an important partner for OPEC in promoting market stability and cooperation.
The visit by Haitham Al-Ghais to Algeria is a significant event that underscores the strong ties between Algeria and OPEC. It provides a platform for discussions on key issues affecting the global oil market and opportunities for cooperation. The visit is expected to reinforce Algeria's commitment to OPEC and its role in promoting a stable and sustainable oil market.
Key points
- The visit coincides with the 10th anniversary of the historic Algiers Agreement, which established the OPEC+ framework for cooperation among major oil producers.
