The Minister of State, Minister of Energy, Mines, and Renewable Energy, Mohamed Arkab, participated on Saturday in the 59th meeting of the Joint OPEC and non-OPEC Ministerial Monitoring Committee (JMMC), which focused on evaluating the level of compliance with production for January and February 2025, according to a statement from the ministry.
Arkab attended this meeting via video conference, in the presence of the CEO of Sonatrach, Rachid Hachichi, the head of the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), Morad Beldjehem, as well as officials from the ministry.
The ministers reviewed the level of compliance with the production agreement for the first two months of the year and discussed the situation of the international oil market and its short- and medium-term prospects.
The statement noted that JMMC members "closely follow the evolution of the global oil market and remain fully mobilized in the face of ongoing developments," adding that "continuous consultations are being held to ensure optimal coordination of joint actions within OPEC+."
