Algeria has reduced its oil output by around 24,000 to 25,000 barrels per day (b/d) starting from January 1 according to The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC agreement, state-controlled news agency APS quoted an oil official saying, Zawya Reuters reported.
Before the agreement, Algeria’s output was reaching around 1.08 million b/d, Salah Mekmouche, Sonatrach upstream executive told reporters on January 13.
OPEC and its Russia-led allies (OPEC+) agreed to reduce oil production by around 1.2 million barrels per day (b/d) during a meeting in Vienna on December 6.
According to the agreement, OPEC would cut their production by 800,000 b/d from January 2019 while non-OPEC members would curb their production by 400,000 b/d.