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Oil & Gas

Monday
26 Dec 2022

Algeria Sets Reference Price For Oil At $60 Barrel Through 2023/2025 -APS

26 Dec 2022  by https://www.reuters.com/   
Fuel storage tanks are pictured in Algiers, Algeria April 21, 2020. REUTERS/Ramzi Boudina
 
Dec 25 (Reuters) - Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said on Sunday, citing the 2023 budget approved earlier in the day by President Abdelmadjid Tebboune.
 
The budget set the market price for crude oil at $70 a barrel during the same period.
 
The North African country expects inflation to reach 5.1% and sees economic growth at 4.1% in 2023, APS said.
 
The president stressed the importance of raising gas output in order to boost exports, APS added.

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