ALGIERS, Algerian Minister of Energy Mohammad Arkab said Saturday the OPEC+ alliance continues working effectively to ensure stable supplies to the global oil market and contribute to economic growth.

The alliance spares no effort in maintaining equilibrium of the oil market, he told reporters on the fringes of the second International Conference on the Economic Intelligence which opened in Algiers earlier today.

“For sure, the main aim of all partners is to provide the global market with this vital material in a stable and sustainable way,” Arkab affirmed.

On the decision of last October to cut the glut in production by two million barrels a day, he said the Joint (OPEC and non-OPEC) Ministerial Monitoring Committee (JMMC) keeps watch on the oil market to verify that such decisions would not impact negatively on the world economic growth.

He added that Algeria is to prepare for hosting the Seventh Gas Exporting Countries Forum (GECF) late this year.

Source: Kuwait News Agency