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Economy Dz aliqtissad dz Algeria economy news
Government economic decisions, reforms, budgets, and fiscal policy

Economy Dz aliqtissad dz Algeria economy news

Oil production cuts in the Middle East are widening as the vital Strait of Hormuz remains nearly shut down, increasing chaos in energy markets, amid warnings from major producers of catastrophic consequences. The war in the Middle East, which has entered its second week, and the effective closure of the main export route, along with the resulting filling of storage facilities, have led major producers to cut oil production.

Gold prices rose by about $84 during trading on Tuesday, March 10, surpassing losses from the previous session, as the US dollar index fell against a basket of major currencies, boosting demand for the precious metal. According to trading data, gold futures for April delivery, by 10:26 AM GMT, rose by 1.74% or $88.51 to reach $5183.94 per ounce, while spot contracts increased by 0.81% to $5180.13 per ounce. View the full content on Echourouk Online.

Iranian state media reported that the Iranian Revolutionary Guard announced that Arab and European countries expelling U.S. and Israeli ambassadors will enjoy full freedom to transit through the Strait of Hormuz, the strategic maritime passage that carries about one-fifth of global oil and liquefied natural gas exports. This announcement came amid a halt in maritime shipping and energy exports through the strait, leading to hundreds of ships remaining anchored on both sides of the waterway, causing heightened tension in global oil and shipping markets. Read the full content on Echourouk Online.

Oil prices fell by about 8.5% during trading on Tuesday, March 10, for the first time in eight sessions, as fears of long-term disruptions in global crude supplies eased following U.S. President Donald Trump's statements about the possibility of the war in the Middle East ending soon. According to trading data, Brent crude futures for May 2026 fell by 8.24% to $91.09 per barrel, while West Texas Intermediate crude futures for April 2026 dropped by 8.47% to $86.74 per barrel. View the full content on الشروق أونلاين

The African Petroleum Producers Organization confirmed that the Trans-Saharan Gas Pipeline (TSGP) project, which connects Nigeria to Algeria via Niger, is one of the strategic structural projects capable of enhancing Africa's position as a key player in the global energy market balance, by providing a new route for gas supplies to international markets, especially European ones. In an editorial published on the organization's website titled 'Africa: The Strategic Hub of the New Energy Map', the organization's Secretary-General, Fred Ghazali, explained that accelerating the development of vital infrastructure on the continent has become a strategic priority, with the Trans-Saharan Gas Pipeline project at the forefront.

Algeria - The Organization of the African Oil Producing Countries highlighted the importance of the Trans-Saharan Gas Pipeline (TSGP) project, which connects Nigeria to Algeria via Niger, as a structural project that will enhance the continent's position as a key player in the balance of the global market.

Today, Tuesday, the project for connecting and transferring treated water from the Rougaia station in the capital to the large irrigation area of Mitidja East in Algiers was commissioned, with a transfer capacity estimated at 60,000 cubic meters per day. The operation was overseen by the Minister of Water Resources, Taha Derbal, during a field visit that took him to several projects and institutions affiliated with the sector in Algiers and Boumerdes.

Annual production is expected to reach about 170,000 tons of zinc and 30,000 tons of lead.

As part of strengthening bilateral cooperation and consolidating the distinguished relations between Tunisia and Algeria and further connecting the two brotherly peoples.

The new agricultural orientation and food sovereignty law project represents a new approach to reorganizing the agricultural sector, as highlighted this Tuesday in Algiers by the Minister of Agriculture, Rural Development, and Fisheries Yassine Walid, emphasizing the expected role of this text in enhancing food security in Algeria.

Oil prices fell this Tuesday by 9 percent, after reaching their highest level in more than three years in the previous session. Brent crude futures dropped by more than $9 to $89.58 per barrel, while West Texas Intermediate crude also fell by $9 to $85.77.