Why Algeria Will Be A Key Part Of Any OPEC Deal

18 Oct 2016   Algeria

Barkindo Rouhani At the 23rd World Energy Congress in Istanbul last week, talks regarding the OPEC crude oil production freeze took a surprising turn. Energy Minister Noureddine Boutarfa from Algeria has taken the lead on this deal, having facilitated prior negotiations between Saudi Arabia and Iran. Informal meetings took place in Algeria leading up to the announcement on September 28th that the two competing nations could proceed to accept a production freeze. Countries aiming to participate in the deal have failed to agree on key aspects but are now coming to the table. Algeria has been described as one of OPEC’s most negatively affected countries in response to low oil prices. Low oil prices hinder exports and earnings for oil majors, putting their respective countries into economic decline. In order to regain stability, it’s in Algeria’s best interest to make the production freeze succeed. Algeria has a long-standing relationship […]

Comments are closed.