Ahmad 
Oil production in Algeria decreased during the month of May by 6 thousand barrels per day, falling to 903 thousand barrels per day compared to 909 thousand barrels per day in April.
This decline comes in conjunction with the country implementing additional voluntary cuts within the production reduction policy followed by the OPEC+ alliance.
Algeria, among seven member states of the OPEC+ alliance, decided to extend the voluntary cuts that began in May 2023, amounting to a total of 1.65 million barrels per day, until the end of December 2025.
The voluntary reductions announced last November, amounting to 2.2 million barrels per day, were extended until the end of September 2024, and the reductions amounting to 2.2 million barrels per day were gradually restored starting from October 2024 until the end of September 2025, with the possibility of stopping or reversing them according to developments in the global oil market.
According to monthly data issued by the Organization of the Petroleum Exporting Countries (OPEC) on June 11, 2024, oil production in Algeria is expected to reach about 908 thousand barrels per day during the third quarter of 2024.
With the start of the restoration of the voluntary reduction quantities, production in Algeria is expected to reach 959 thousand barrels per day during the last quarter of 2024, before the country’s share within the “OPEC+” alliance rises to 1.007 million barrels per day during 2025.
It is noteworthy that the OPEC+ alliance’s production of crude oil fell to 40.92 million barrels per day in May, compared to 41.04 million barrels per day in April.
In contrast, the total production of OPEC member states rose slightly to 26.62 million barrels per day during the past month, compared to 26.6 million barrels per day in the previous month.
Among the most notable changes, Russia’s crude oil production fell last May to 9.182 million barrels per day, Saudi Arabia’s oil production declined to 9 million barrels per day, while Iran’s production rose to 3.22 million barrels per day last month, and Nigeria’s production rose to 1.419 million barrels. Daily.
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