Algerian Energy Minister, Mohamed Arkab, confirmed that the Organization of Petroleum Exporting Countries and its allies “OPEC +” will take all necessary measures to maintain market balance in light of fears of the outbreak of the Corona mutated “Omicron”.
He explained in his interview with reporters today, Tuesday, that “OPEC +” will study, during its expected meeting next Thursday, the reports of experts on oil supplies to the international market, noting that “it will take measures in light of these reports in order to provide good supplies to the oil market that will allow it to restore its balance.”
Arkab added that the new Corona mutator “gave the impression that it had effects on global markets that witnessed a decline in crude oil prices, due to the closure procedures and suspension of air and sea flights that were taken, especially by fuel consuming countries.”
He pointed out that the impact of this mutation on the global oil market remains to this day “primary” and requires “caution and follow-up” in order to take the necessary measures.
In response to a question about the export of natural gas to Spain after the decision to abandon the use of the Trans-Moroccan pipeline starting from the first of last November, Arkab reiterated “Algeria’s full and faithful commitment, through Sonatrach, to the agreements to supply Spain with natural gas.”
Source: Algerian News Agency
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