Discover Algeria | Press area | Contact  
English Français
Registration
English Français

January 5, 2026 | 3 months ago

  • More options

    Share on LinkedIn
    Share on Twitter

Faced with global economic uncertainty, Algeria and seven other countries maintain a production freeze in Q1 2026

Algeria and seven other OPEC+ countries reaffirmed on Sunday their decision to suspend gradual production increases for the first quarter of 2026. This measure was adopted during a ministerial meeting via videoconference between Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia, all of which implemented voluntary reductions in April 2023.

Algeria Invest
Legal Notices | Terms of Services
news-detail

Algeria and seven other OPEC+ countries reaffirmed on Sunday their decision to suspend gradual production increases for the first quarter of 2026. This measure was adopted during a ministerial meeting via video conference between Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman and Russia, all of which implemented voluntary reductions in April 2023.

The Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, emphasised the importance of "increased vigilance and close coordination, both within the group of eight and with all countries participating in the Declaration of Cooperation". He also reaffirmed "Algeria's commitment to collective decisions, deemed consistent and appropriate in view of current market conditions, insisting on the need to preserve "the effectiveness and credibility of the cooperation mechanism.

According to OPEC+, the group of eight countries remains committed to maintaining market stability "in a context of stable global economic prospects and healthy market fundamentals, as evidenced by declining inventories". The ministers reaffirmed "the importance of adopting a cautious approach and maintaining full flexibility, reiterating that any further adjustments will be overseen by the Joint Ministerial Monitoring Committee (JMMC), with full compensation for any excess volumes since January 2024.

It should be noted that in April 2025, the group gradually increased production to return to pre-voluntary reduction levels. However, in light of global economic uncertainty, it decided last November to freeze these increases for the period from January 1 to March 31, 2026. A new meeting is scheduled for February 1 to monitor market developments.

January 5, 2026 | algeria-logo

  • More options

    Share on LinkedIn
    Share on Twitter
Subscribe to the economic newsletter