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Angola, Algeria and Nigeria Meet to Analyse Crude-Oil Price Fall

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Brazzaville — The Angolan and Algerian ministers of Oil, respectively José Maria Botelho de Vasconcelo and Youcef Yousfi, as well as the Nigerian ambassador to Algeria held a closed door meeting on March 17, in Algiers, in which they analysed the current fall in crude-oil prices in the international market, informed the Congolese daily newspaper “Les Dépêches de Brazzaville” that also cited Algerian sources.

According to the sources, the meeting was part of the initiative of the Algerian President, Abdelaziz Bouteflika, turned to the reinforcement of dialogue and concert among the oil exporting countries, be they members of the Organisation of Petroleum Exporting Countries or not (OPEC).

José Botelho de Vasconcelo, who stressed the importance of this concert meeting to African oil exporting African countries, explained that the gathering aimed at exchanging points of view and reflect on the prevailing situation in the international oil market.

The Algerian minister of Oil, Youcef Yousfi said that the gathering was intended to exchange information about the crude-oil market at short and medium terms, with a view to checking the various consequences of the impact of the fall in the crude-oil price on the economies of African countries.

On his turn, the Nigerian ambassador to Algeria saluted the initiative of the Algerian Head of State, considering the strong impact of the fall in crude-oil price, especially on African countries.

According to him “It is necessary for us to be always together so that we can share our experiences and outline strategies that enable the finding of solutions to these problems”.

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