Algeria sets reference price for oil at $60 barrel
Baku, December 26, AZERTAC
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, according to Arab News.
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 percent and sees economic growth at 4.1 percent in 2023, APS said.
The president stressed the importance of raising gas output in order to boost exports, APS added.
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