Algeria to cut oil output by 12,000 bpd under new OPEC deal
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ALGIERS (Reuters) - OPEC member Algeria will reduce its crude oil output by 12,000 barrels a day to comply with a deal agreed by other producers with the aim of balancing the global oil market, Energy Minister Mohamed Arkab said on Monday.OPEC and non-OPEC producers led by Russia last week agreed a new deal to cut production that includes an extra 500,000 barrels a day."Algeria's additional output cut is 12,000. I think it will not affect our contracts and exports," Arkab told a state radio..