Algerian Energy Minister Arkab Participates in 52nd JMMC Meeting

BY: Dr. Hana Saada

ALGIERS- The Minister of Energy and Mines, Mohamed Arkab, is set to join the 52nd ministerial meeting of the Joint Ministerial Monitoring Committee (JMMC) through a video conference on Thursday. In a statement from the Ministry of Energy, it was announced that the meeting will involve discussions on the current state of the global oil market and its short-term development prospects. Additionally, ministers will assess the adherence to production reduction quotas set by OPEC+ member countries for December 2023.

The Joint Ministerial Monitoring Committee convenes bi-monthly to evaluate the implementation of decisions made by OPEC+ to uphold the balance and stability of the global oil market. The committee comprises seven OPEC member countries, including Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela. Alongside OPEC members, the committee includes non-member countries Russia and Kazakhstan.

The meeting holds significance amid ongoing efforts to navigate challenges and uncertainties in the global energy landscape. Minister Arkab is expected to contribute Algeria’s perspective on these matters, reinforcing the country’s commitment to collaborative measures aimed at ensuring market equilibrium and stability.

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