Algiers: Algerian Energy Minister Mohamad Arkab on Tuesday underlined the importance of the decision reached by the eight Organization of the Petroleum Exporting Countries and allied producers such as Russia (OPEC+) members with voluntary cuts, stressing that Algeria had no doubts whatsoever about the agreement.
According to Kuwait News Agency, in a ministry statement, Arkab said Algeria fully backs the collective move, which comes amid a seasonal rise in global oil demand, particularly over the summer. Under the deal, Algeria will raise crude output by 8,000 barrels per day starting in July, a step that will also support the phased start-up of several newly developed fields and enhance the value of national resources, he said.
Responding to media reports suggesting divisions among the eight producers, he reiterated the group's unity: consultations on May 31 were constructive and coordinated, producing a unanimous decision to lift output by 411,000 bpd. Algeria lodged no objections, and no proposal beyond the three previously approved increases was discussed, he added.
Arkab reiterated Algeria's unwavering commitment to OPEC+ principles, noting that the country has always rigorously met its production pledges.