African oil producers throw weight behind OPEC efforts to stabilize market
The African Petroleum Producers' Association (APPA) has expressed their support to the Organization of Petroleum Exporting Countries (OPEC) efforts to stabilize the oil markets, ahead of the cartel meeting scheduled next Wednesday in Vienna to implement Algiers Agreement.
The APPA "expresses its support to Algiers Agreement and joins the efforts aiming at the stabilization of oil markets of OPEC member countries," said its president Adama Toungara, Ivory Coast minister for Energy in a letter sent to Energy Minister Noureddine Boutarfa.
During the 52nd ordinary meeting of APPA Expert Committee recently held in Benin’s Cotonou, the member countries committed to support the OPEC member counties in their efforts to stabilize the market.
"Recognizing the repercussions of the fall in oil prices on the African countries economies and considering that the historical decision taken by OPEC in Algiers gave a real impulse to the market," the APPA member countries expressed at the end of this meeting, their "support for the OPEC process to deal with the fall in oil prices" and support "any effort of the OPEC member countries for stabilizing prices in the oil markets".
In this regard, Algeria has intensified its commitment for the implementation of the Algiers Agreement.
Energy Minister Boutarfa has thus started talks with the OPEC member countries to provide the best conditions for a consensual, just and balanced deal which will allow the implementation of Algiers Agreement.
