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Algeria and six OPEC+ partners keep December oil output unchanged

3 November 2026 · Algeria Now

Algeria and six OPEC+ partners keep December oil output unchanged — Photo : Priwo / Wikimedia Commons, Public domain

ALGIERS — Algeria and six other members of the OPEC+ alliance have agreed to leave their oil production levels unchanged for December, after a ministerial meeting by videoconference on Sunday. Algeria was represented by Mohamed Arkab, Minister of State and Minister of Hydrocarbons.

The group, which also includes Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan and Oman, said the decision reflected current market conditions and the short-term outlook, in a context of global economic uncertainty and the energy transition. Algeria's production level therefore stays at 1.007 million barrels a day. The seven countries pledged to remain in close contact and will meet again on 29 November to reassess the market and consider further measures.

For Algiers, the decision offers visibility at a time when oil and gas revenues underpin public finances. Speaking in mid-October, Mr Arkab said hydrocarbon export revenues had reached $37.5 billion by the end of September, with crude averaging about $97 a barrel, up 37 per cent on the same period of 2025. Sonatrach, the state energy company, invested more than $6 billion over the same nine months.

The government nevertheless builds its budget on much lower prices. The 2027 finance bill, now being debated in the National People's Assembly, the lower house of parliament, assumes an oil reference price of $60 a barrel, a margin intended to protect spending plans from market swings. The assembly is due to vote on the bill on 16 November.

Prices this year have been shaped by disruption to shipping in the Strait of Hormuz, which has also weighed on global trade. Algeria, a member of the Organization of the Petroleum Exporting Countries since 1969, has consistently favoured coordinated decisions among producers to keep markets stable and predictable.

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