Kuwait city: The Algerian Ministry of Energy and Mining announced on Sunday its plan to increase oil production by 4,000 barrels per day (pbd) starting October 1. This move aligns with the voluntary production cuts decided at the recent OPEC+ ministerial meeting.
According to Kuwait News Agency, the decision underscores the commitment of OPEC+ allies to stabilize the global oil market despite the uncertain outlook. The Ministry's statement emphasized the collective effort of member countries to maintain market balance.
During the 61st Ministerial Meeting of the Joint Ministerial Monitoring Committee (JMMC) on July 28, an upward production adjustment of 547,000 barrels per day was agreed upon for September 2025. The meeting, conducted via videoconference, included Algerian Minister of Energy and Mining Mohammad Arkab, Kuwaiti Minister of Oil Tareq Al-Roumi, and representatives from six other OPEC+ member countries.