Algeria says OPEC+ decision to keep output unchanged appropriate

Algerian Energy Minister Mohamed Arkab attends the Organisation of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria October 5, 2022. REUTERS/Lisa Leutner

CAIRO, Dec 4 (Reuters) - Algeria's energy minister said on Sunday that the OPEC+ decision to keep output unchanged was appropriate to market fluctuations, the country's state news agency reported.

The OPEC+ group will closely monitor crude markets for any developments, minister Mohamed Arkab said in remarks after its Sunday meeting, adding that the decision kept Algerian output unchanged at 1.007 mln bpd.

Earlier on Sunday, OPEC+ agreed to stick to its oil output targets as markets struggle to assess the impact of a slowing Chinese economy on demand and a G7 price cap on Russian oil on supply.

Reporting by Ahmed Tolba and Moaz Abd-Alaziz; Editing by Alexander Smith

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