Algiers, April 30 -- Algeria reaffirming its commitment to OPEC (Organisation for Petroleum Exporting Countries) called the energy bloc a foundation of stability in the global oil market.
The statement by the country's Ministry of Hydrocarbons and Mines on Wednesday, comes following the UAE's sudden announcement that it will be quitting the bloc on May 1 to prioritise national interest, ending six decades of cooperation.
The ministry said that Algiers will continue to support collective coordination between oil-producing countries, arguing that the OPEC framework and the wider OPEC mechanism remain essential to balancing supply and demand and limiting market volatility, according to RT.
Algeria is one of the OPEC countries, alongside Sau...