Algeria
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HALLIGAN: Power struggle in OPEC+ is pulling oil prices down
The oil market has entered choppy waters once again. Crude prices fell by a dramatic 18% in April y/y – the sharpest monthly drop since November 2021 – partly due to a global slowdown, but more due to a power struggle within OPEC+.
Oil is a major source of income for eight African countries – OWID
Oil production plays an important role in the economy of many African countries. The chart shows oil rents as a percentage of gross domestic product (GDP) for the nine African nations most reliant on it, Our World in Data reports.
Sanctioned Russian cargo ship sinks in Mediterranean after explosion
A sanctioned Russian cargo vessel, Ursa Major, has sunk in the Mediterranean Sea between Spain and Algeria.
Russia's budget oil breakeven price world’s second lowest as oil revenues recover
The Institute of International Finance (IIF) has forecast a decrease in Russia’s fiscal breakeven oil price (the amount to balance the external current account) to $77 per barrel by 2025, supported by a recovery in oil and gas revenues.
Southeast European countries look to Algeria to diversify energy supplies
Both Slovenia and Croatia are tapping Algeria for gas imports as the country becomes an important supplier to southern Europe.