April 30, 2020 / 9:47 PM / a month ago

Algeria energy minister urges oil producers to comply with output cut deal

ALGIERS, April 30 (Reuters) - Algerian Energy Minister and OPEC Conference President Mohamed Arkab on Thursday called on OPEC+ members to fully comply with an oil output cut agreed earlier this month and which will come into effect on Friday to help stabilise global crude prices.

“In the face of the unprecedented difficulties facing the oil market, it is of the utmost importance that all the signatory countries fully implement the production reduction agreement,” the energy ministry quoted him as saying in a statement. “The objective is to ensure a compliance rate of more than 100%.” (Reporting by Hamid Ould Ahmed; Editing by Daniel Wallis)

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