According to the minister, OPEC must intervene in the oil market to counter the sharp fall in oil prices. Other OPEC members like Iran and Venezuela have called for a reduction in production.
The most important OPEC member Saudi Arabia has said production not want to reduce. The twelve-nation oil cartel provides about 40 percent of total global oil needs.
Algeria is 95 percent of its export revenues depend on oil and gas. Because of the drastic drop in oil prices is likely to enter the country in a fix with its budget 
See also:. “Low oil prices stimulate economy”
No comments:
Post a Comment