*Algeria’s economy is reliant on exports of oil and gas as its key source of revenue. Gas exports fell sharply for 2024 (MEES, 7 February), and latest oil stats from Jodi do not make positive reading either.
*Algiers can blame Opec+ commitments for the 7% fall in crude output to 908,000 b/d for 2024. But, as with gas, steadily-rising demand for oil products – sales of which on the domestic market are heavily subsidized – is cutting into the ability to translate output into export earnings. (CONTINUED - 241 WORDS)
