Algerian Radio
Algeria and seven other OPEC+ countries confirmed on Sunday their decision, adopted last November, to suspend any production increase until March 2026, thereby contributing to preserving market balance for the benefit of producers and consumers, according to a statement from the Ministry of Hydrocarbons and Mines.
This decision was reaffirmed during a coordination meeting held via videoconference between the eight countries committed to voluntary production adjustments within the framework of OPEC+ (Organization of the Petroleum Exporting Countries and their non-member allies). These countries are Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia, the same source specified.
The ministerial meeting was dedicated to implementing the assessment and monitoring mechanisms regarding the decisions of countries participating in the Declaration of Cooperation (OPEC+).
Following the discussions, the Group members confirmed the continued suspension of any production increase until March 2026, reaffirming "their commitment to close coordination between the eight countries and the importance of continuous and attentive monitoring of international oil market developments."
According to the statement, maintaining production levels in the first quarter is "fully consistent with current market conditions and demonstrates the sense of responsibility and credibility of OPEC+ countries." In a context marked by seasonal factors, "this prudent and proactive approach contributes to preserving market balance for the benefit of producers and consumers."
Furthermore, Algeria also took part in the proceedings of the 64th meeting of the Joint Ministerial Monitoring Committee (JMMC), alongside representatives from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, Venezuela, as well as Kazakhstan and Russia.
During this meeting, JMMC members evaluated the degree of compliance of OPEC+ countries with their voluntary production reduction commitments for the months of November and December 2025.
On this occasion, the Committee praised the efforts of the participating countries, while highlighting that "strict and continuous compliance with collective decisions remains a determining factor for preserving the stability of the international oil market," the source concluded.
