Algiers announced on 11 October that it was hopeful that OPEC would accept a request to increase its oil quota. 'OPEC has adopted a good attitude. Some members want their quotas to be higher. The cartel has set up a commission to study these requests. Algeria is optimistic regarding its request,' said Algerian Energy & Mines Minister Chakib Khelil.
As of 1 November, Algeria's oil quota will be 782,000 barrels a day (b/d), reduced from 811,000 at the 24 September OPEC meeting. Algeria is on track to increase oil output to 1.5 million barrels a day by 2005, Khelil said on 6 May.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
