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    Home » Algeria sets reference price for oil at $60/b through 2023/2025

    Algeria sets reference price for oil at $60/b through 2023/2025

    December 26, 2022
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    * Fuel storage tanks are pictured in Algiers, Algeria April 21, 2020. REUTERS/Ramzi Boudina

    Algiers — Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said on Sunday, citing the 2023 budget approved earlier in the day by President Abdelmadjid Tebboune.

    The budget set the market price for crude oil at $70 a barrel during the same period.

    The North African country expects inflation to reach 5.1% and sees economic growth at 4.1% in 2023, APS said.

    The president stressed the importance of raising gas output in order to boost exports, APS added.

    *Moaz Abd-Alaziz & Nayera Abdallah; Editing: Leslie Adler – Reuters

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