'Improbable' revision of OPEC+ agreement not discussed, says Algerian minister

There are “no ongoing discussions” on a revision of the October 5 OPEC+ oil production decision, Algeria’s minister of energy and mines told Reuters on Tuesday, Report informs.

Speculation on “improbable revisions of OPEC+ production levels” is likely to disrupt oil markets, Mohamed Arkab said in a statement. “OPEC+ decisions are taken in complete transparency at meetings,” he added.

On November 21, the UAE and Saudi Arabia also announced their non-participation in any negotiations to adjust the October decision of OPEC +. Earlier, The Wall Street Journal wrote that Saudi Arabia and other members of OPEC + discussed the issue of increasing production to 500,000 barrels per day.