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OPEC and Russia agree for 6 months

OPEC and Russia have agreed a mutually accepted formula of oil production cap for half a year, Venezuela’s Oil Minister Eulogio del Pino said. He also pointed out that Venezuela expects the signing of documents on …

What oil price OPEC and Russia need?

In order to balance their budgets, largest oil-producing countries in the world require different price of "black gold". According to Bloomberg, this leads to disagreements over the need to reduce oil production level. …

Algerian PM to visit Tehran in December

Algerian Prime Minister Abdelmalek Sellal is expected to pay a visit to Iranian capital city of Tehran in the coming months. Iran’s cultural attache to Algeira, Amir Mousavi, has said that the …

OPEC oil output deal to come into effect in November

The agreement of the OPEC member states on oil production freeze will come into effect after an official organization's summit in Vienna in November, a source in Algerian delegation said.  OPEC will agree to production levels …

OPEC agrees to cut oil output

OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. The Organization of the …

 Algerian Energy Minister believes in consensus on oil

OPEC members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa said. Bouterfa told local radio …

Air Algeria plane lands safely after technical fault

An Air Algeria plane en route to Marseille has been forced to return to Algiers due to an unspecified technical failure. The airline said the plane landed safely in the Algerian capital Saturday around 30 minutes after takeoff and no …