economy
May 1, 2026
Algeria backs OPEC and OPEC+ as UAE prepares to leave oil alliance
Algeria says it remains committed to OPEC and OPEC+ after the UAE announced its exit, calling the producer groups key to global oil market stability
TL;DR
- Algeria remains committed to OPEC and OPEC+.
- The country views these alliances as foundational to global oil market stability.
- Algeria will continue to support collective coordination between oil-producing countries.
- The OPEC framework and OPEC+ mechanism are considered essential for balancing supply and demand and limiting market volatility.
- The UAE announced its departure from OPEC and OPEC+ effective May 1, citing its national energy strategy and need for policy flexibility.
- Algeria is one of eight OPEC+ countries participating in voluntary production changes.
- OPEC+ countries agreed to raise output by 206,000 barrels per day in May, with Algeria's share being 6,000 barrels per day.
- OPEC warned that attacks on energy infrastructure and disruptions to maritime routes could increase market volatility and undermine supply security.
- Algeria has a history of backing coordinated production management within OPEC+.
- Algeria joined OPEC in 1969 and has since supported coordinated output decisions.
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