one million barrels

Algeria is back to producing 1 million oil barrels per day

By Maureen Songne

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Posted on March 7, 2022 15:57

Pump nozzles are pictured at a gas station in Algiers
Pump nozzles are pictured at a gas station in Algiers, Algeria April 21, 2020. REUTERS/Ramzi Boudina

With the agreement of the Opec+ countries, Algiers wants to finally return to its pre-crisis production levels, at a time when prices are exploding due to the war in Ukraine.

In early March in Algiers, the minister of energy and mines, Mohamed Arkab, announced that Algeria’s oil production will exceed one million barrels per day (1,002,000 mb/d to be precise) in April.

The increase will be equivalent to 10,000 additional barrels per day compared to March. This press statement was made in the context of the 26th ministerial meeting of the Organisation of the Petroleum Exporting Countries (OPEC+), devoted in particular to examining the situation of the world oil market and its short-term prospects.

“The signatory countries of the OPEC+cooperation declaration have decided to continue the global increase by injecting an additional 400,000 b/d into the market next April,” said Mohamed Arkab, according to the official APS agency.

Since August 2021, OPEC+ member countries, and other major producers such as Russia, who have been coordinating their production within

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