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Oil prices fall over 2% as OPEC+ members, including Algeria, agree to production increase
via Algérie3603 min read
Oil prices dropped over 2% on Friday for the second consecutive session, driven by easing tensions in the Middle East. Brent crude for August 2026 delivery fell 2.19% to $88.40, while West Texas Intermediate WTI for July 2026 delivery decreased 2.08% to $85.89. Despite this decline, the oil market remains sensitive to political and security developments. Seven OPEC+ member countries, including Algeria, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman, and Russia, have agreed to collectively increase their oil production by 188,000 barrels per day starting in July. This decision, made during a videoconference meeting of the Declaration of Cooperation DoC signatories, aims to align with global energy market trends. Algeria's share of this increase will be approximately 6,000 barrels per day. The Ministry of Hydrocarbons confirmed this adjustment. The participating countries reaffirmed their commitment to close coordination and continuous monitoring of the international oil market to maintain stability and balance. This gradual approach seeks to prevent sharp imbalances between supply and demand, considering the influence of international tensions, global growth, and energy consumption forecasts on oil prices. Algeria also participated in other ministerial meetings within OPEC and the OPEC+ Declaration of Cooperation. The 193rd OPEC Conference reviewed the general secretariat's operations, strategic priorities, and medium to long-term directions. The 66th meeting of the Joint Minist
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FIFA has announced a record prize money distribution for the 2026 World Cup, which will be held in the United States, Canada, and Mexico from June 11 to July 19. The total prize pool for the 48 qualified teams is $871 million, a 15% increase from initial projections, driven by the commercial success of the competition. The champion will receive an unprecedented $50 million, while the finalist will get $33 million. Even teams eliminated in the group stage will receive $10 million. FIFA President Gianni Infantino expects the event to generate $8.9 billion in revenue. Meanwhile, Algeria has qualified for the 2026 World Cup after a 12-year absence, marking their fifth participation in the tournament. They secured their spot by defeating Somalia 3-0. Algeria is placed in Group J alongside Argentina, Austria, and Jordan. Their group stage matches are scheduled for June 16 against Argentina in Seattle, June 23 against Jordan in San Francisco, and June 27 against Austria in Vancouver. The team's coach, Vladimir Petkovic, announced a 26-player squad, with Riyad Mahrez as captain and Mohamed Amoura leading the attack. President Abdelmadjid Tebboune expressed pride in the team's qualification. Matches will be broadcast in Algeria on beIN Sports and ENTV.
South Korea is set to enhance its partnership with Algeria across several strategic industrial and technological sectors. The new Ambassador of the Republic of Korea to Algeria, Min Kyung-tae, announced his country's full readiness to support Algeria following his reception by the President of the Republic, to whom he presented his credentials. This declaration underscores Seoul's commitment to supporting Algeria's new roadmap. The strategic partnership will focus on industry and the environment, with South Korea, a global leader in technological innovation, targeting the Algerian market. Priority areas include digital transformation, smart agriculture, heavy and advanced industries such as shipbuilding and the automotive sector, and water and energy security through renewable energy development and seawater desalination. Min Kyung-tae highlighted South Korea's expertise in skills development and sustainable investment, which it aims to share with Algeria, recognizing it as a reliable partner. He emphasized that this cooperation would fully respect Algeria's sovereignty and strategic decision-making independence. The ambassador's arrival coincides with 2026, marking the 20th anniversary of the Strategic Partnership between Algiers and Seoul, a milestone intended to invigorate cooperation. Beyond industrial contracts, Seoul seeks to build lasting human and cultural bridges, recalling historical connections like the Silk Road. The Republic of Korea plans to intensify educationa
Christophe Barthès, the RN mayor of Carcassonne, has refused to allow the Algerian consulate access to municipal premises for the upcoming Algerian legislative elections. The decision, announced on Thursday, June 11, 2026, follows a request from the Algerian consulate to set up polling stations for Algerian nationals residing in France. Barthès cited "particularly degraded relations" between Paris and Algiers, referencing the cases of Boualem Sansal and Christophe Gleizes, as reasons for his "assumed political choice." He stated that it would be inconsistent for Carcassonne to use its resources for elections organized by a state with strained relations with France. The mayor clarified that his decision does not target the Algerian community in his municipality but is directed at the Algerian authorities. This action adds to a series of controversial measures taken by Barthès since becoming mayor in March, including removing the European flag from the city hall and signing an anti-begging decree.