APS : Sunday, 23 September 2018
ALGIERS- The Organization of Petroleum Exporting Countries (OPEC) on Sunday in Algiers paid tribute to President of the Republic Abdelaziz Bouteflika,
on the sidelines of the 10th Meeting of the Joint Ministerial Monitoring Committee (JMMC).
The Head of the State has been commended for the efforts he engaged for the stabilization of oil market that guarantees the interests of both producing and consuming countries.
Coinciding with the celebration of the second anniversary of September 2016 Algiers Agreement, this tribute is a recognition of President Bouteflika’s wisdom and efforts through concerted action and dialogue with oil-producing countries, including the non-OPEC countries, in order to support oil prices.
The Head of State played a major role in the conclusion of the output cut agreement in September 2016 in Algiers.
In fact, President Bouteflika had launched a consensual approach as of February 2015. He sent several ministers holding messages to oil producing countries in order to restore oil market equilibrium.
Later in 2016, oil producing countries’ presidents, heads of government and energy ministers visited Algeria to hold consultations with the President of the Republic in order to indentify the means to recover the oil prices.