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Article: ALGERIA: OPEC Prepares For Oil Price Roller Coaster In 2001.
- Article from:
- APS Review Oil Market Trends
- Article date:
- November 13, 2000
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ALGERIA's Energy Minister Shakib Khelil believes world crude oil prices would fall steeply from March and would rise rapidly in the fourth quarter of 2001. He maintains a moderate position in OPEC.
For foreign investors in Algeria's oil and gas, the situation has improved further and its oil/condensate production capacity keeps expanding, having reached 1.55m b/d. The capacity would rise to 1.75m b/d by 2005, compared to 850,000 b/d in early 1997. Foreign firms have been responsible for the rapid expansion and, eventually, will account for more than half of Algeria's oil and condensate output. Algeria's output of OPEC quota oil is averaging about 900,000 b/d, ...