ALGIERS - Algeria and seven other OPEC+ countries reaffirmed on Sunday their November decision to suspend production increases until March 2026. The move aims to maintain market stability for both producers and consumers, according to a statement from the Ministry of Energy and Mines.

This decision was confirmed during a coordination meeting held via videoconference between the eight countries participating in voluntary production adjustments under the OPEC+ framework: Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Kazakhstan, Kuwait, Oman, and Russia.

The ministerial meeting focused on the evaluation and monitoring mechanisms for decisions made under the Declaration of Cooperation (DoC). Following the discussions, members confirmed the extension of the production freeze, reaffirming "their commitment to close coordination and the importance of continuous, vigilant monitoring of international oil market developments."

According to the statement, maintaining current production levels through the first quarter is "fully in line with market conditions and reflects the responsibility and credibility of OPEC+ nations."

Given seasonal factors, the ministry described this "prudent and proactive approach" as essential for market balance.

Furthermore, Algeria participated in the 64th meeting of the Joint Ministerial Monitoring Committee (JMMC), alongside representatives from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, Nigeria, and Venezuela, as well as Kazakhstan and Russia.

During the meeting, JMMC members evaluated compliance with voluntary production cuts for November and December 2025.

The Committee commended the efforts of participating nations, emphasizing that "strict and continuous adherence to collective decisions remains a determining factor in maintaining international oil market stability."