Arkab: Market balance is the ultimate goal of the decisions of “OPEC” and “OPEC +” – Al-Hiwar Algeria

The Minister of Energy and Mines, Mohamed Arkab, affirmed that “the endeavor and strategy of the Organization of Petroleum Exporting Countries (OPEC) and the OPEC + alliance are continuing to ensure the balance of the international market and the balance of its fundamentals.”

Arkab said, in a press statement on the sidelines of the first African Conference for Emerging Enterprises, today, Monday, that “market balance is the ultimate goal of OPEC and OPEC + decisions. The global market will also be healthy.”

The same official explained that the goal is to accompany all economic developments around the world and provide this energy material (oil) to the world, noting that the decision of OPEC + taken yesterday, Sunday, to continue the oil production plan of the alliance scheduled for last October came after noticing “some imbalances in the market.” World Oil.

He said in this regard: “We noticed some imbalances in the market and decided to continue our joint efforts between OPEC and non-OPEC countries to support our decision for the month of October, and we will continue until the end of 2023.” He added that the joint ministerial committee to monitor these decisions will meet on February 1, 2023 to study the global oil market. You will make decisions that are “appropriate to the stage.”