
OPEC+ Alliance Increases Oil Production by 206,000 Barrels per Day in May
The OPEC+ alliance approved today, Sunday, an increase in oil production by 206,000 barrels per day during the upcoming month of May.
Import/export, trade agreements, customs, and international commerce

The OPEC+ alliance approved today, Sunday, an increase in oil production by 206,000 barrels per day during the upcoming month of May.

South Korea has urged Gulf countries to provide stable energy supplies and essential materials, such as naphtha, to South Korea.

Four sources from the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries and its allies, reported that the alliance may approve an increase in oil production today, Sunday, but it will likely be 'theoretical' only, as major member countries are unable to raise production due to the American-Zionist war on Iran, according to Reuters. Reuters noted that the conflict has effectively closed the Hormuz Strait since the end of February, which is the most important global oil export route, leading to the largest supply disruption ever, with global production declining by between 12 and 15 million barrels per day, or about 15% of global supplies. Read the full content on Echourouk Online.

Today, Sunday, the OPEC+ alliance is meeting to discuss oil production quotas for May, amid strong possibilities of approving a new increase in production, considering the ongoing tensions in the Middle East and their impact on oil supplies.

The holding company for textiles and leather, GITEX, is preparing to sign contracts with international brands in the field of clothing and footwear production locally, aiming to enhance the position of the public group and support the competitiveness of national products at both regional and international levels, according to CEO Tawfik Barkani. Barkani explained in a statement to 'APS' that the group has begun exploration and negotiation operations with major brands and international operators in the fields of textiles, clothing, and leather products, in order to sign manufacturing contracts that meet international standards, allowing for the integration of national production units into global value chains for textiles, ready-made clothing, and leather. Read the full content on Echourouk Online...

The Tala Hamza mine highlights Algeria as an emerging player in the global minerals market.

Represents an important step in enhancing national production.

The decision came during the OPEC+ meetings and the JMMC meeting.

Algeria and seven other countries in the OPEC+ alliance decided this Sunday to voluntarily increase their production by 206,000 barrels per day in May, reaffirming their commitment to continue close coordination among themselves, according to a statement from the Ministry of Energy and Mines. This decision came during a coordinating meeting held via video conferencing, attended by Algeria and seven other countries in the OPEC+ alliance involved in voluntary cuts, namely Saudi Arabia, the UAE, Iraq, Kazakhstan, Kuwait, Oman, and Russia.

The 'Made in Algeria' textile aims to internationalize. Steps have already been taken by the Holding Textiles et Cuirs GETEX.

The work of the 20th session of the Algerian-Mauritanian Joint Commission for cooperation at the expert level has begun.

Algeria - The holding company for textiles and leather 'GITEX' intends to sign contracts with international brands in the field of clothing and footwear locally, in order to strengthen the position of the public group and thus the national product at both regional and international levels, according to what was stated by the CEO of the public group, Toufik Barkani.