Arab Today, arab today algeria may lose 20bn if oil prices
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

Algeria may lose $20bn if oil prices

Arab Today, arab today

Arab Today, arab today Algeria may lose $20bn if oil prices

Algiers - Arabstoday

Opec member Algeria may lose $20bn of its oil revenues in a year if crude prices continue to drop, the country’s Energy Minister Youcef Yousfi told state radio late Wednesday, a day after backing an emergency meeting of the oil exporters’ group in the event of renewed declines in prices. “Oil prices have dropped $30 a barrel from the level they’ve reached a few months ago and this is a big drop,” Yousfi said. “In a year this will represent a loss of about $18bn to $20bn in our oil revenues and this is a worrying matter,” he said. The country’s central bank has recently said that Algeria needs an oil price of $112 a barrel to balance its budget, compared with $100 per barrel in 2011 estimated by the International Monetary Fund. Yousfi said on Tuesday that Algeria would support an emergency meeting of the Organisation of the Petroleum Exporting Countries if prices continue to decline further, backing an earlier call from fellow group member Iran. He has previously said that Opec may meet to discuss falling oil prices, which are impacted by oversupply, but he did not clarify the level at which Opec would call for an emergency meeting. Last month, Opec agreed to maintain its combined production ceiling for its 12 members at 30mn bpd, but several members signalled that the group could meet again soon if oil prices retreat much more. Iran’s oil minister Rostam Ghasemi has recently called for an emergency Opec meeting to cut output after oil prices fell below $100 a barrel, adding that other Opec members are backing his call. from gulf times.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today algeria may lose 20bn if oil prices Arab Today, arab today algeria may lose 20bn if oil prices

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday