Algeria will raise its oil production by 6,000 barrels per day in June as part of a broader output adjustment agreed by members of the OPEC+ alliance, authorities said Sunday.
The decision was announced by the Ministry of Hydrocarbons and Mines of Algeria following a virtual meeting of key producers, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
The group agreed to a collective production increase of around 188,000 barrels per day for June, continuing a series of voluntary adjustments aimed at stabilising global oil markets.
Officials said the move reflects improving market fundamentals, including stronger demand and signs of gradual global economic recovery.
Algerian Hydrocarbons Minister Mohamed Arkab said recent market conditions had shown “encouraging” trends, with consumption expected to strengthen further in the coming weeks.
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He added that recent price fluctuations were largely driven by seasonal factors and were likely to ease as demand stabilises.
OPEC+ members reaffirmed their commitment to coordinated production management, describing their approach as “responsible and proactive” in supporting balance and stability in the international oil market.
The adjustment comes as global energy markets continue to navigate uneven demand recovery, geopolitical uncertainty, and shifting consumption patterns across major economies.
While the planned increase is relatively modest, analysts say it signals cautious confidence among producers that the market can absorb additional supply without triggering significant price instability.
Algeria, one of Africa’s major oil exporters, remains heavily dependent on hydrocarbons for fiscal revenue and foreign exchange earnings.
The country has in recent years balanced production discipline under OPEC+ agreements with domestic economic pressures, including the need to support public finances and stabilise energy income.
The latest decision follows ongoing coordination within the expanded producer alliance, which has periodically adjusted output levels in response to changing global conditions.
Energy analysts note that even small incremental increases, such as Algeria’s 6,000-barrel-per-day rise, can contribute to broader supply shifts when combined across multiple producers.
However, they also caution that market outlook remains sensitive to external risks, including global growth trends, inventory levels, and geopolitical developments affecting major supply routes.
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For now, OPEC+ producers appear focused on maintaining flexibility while avoiding sharp disruptions to oil prices, as they continue to monitor demand recovery in key importing regions.
