OPEC member Algeria plans to reduce subsidies for electricity and domestic gas next year in order to cut government spending and strengthen its economy.

The OPEC producer, which pumps just below 1 million barrels per day (bpd) of crude and is a major exporter of natural gas to Europe, is looking to cut its spending on subsidies, estimated at $17 billion in 2020. Algeria’s authorities plan to cut subsidies for electricity, cooking oil, domestic gas, and flour as part of a draft 2022 budget.

For more information, please see https://oilprice.com/Latest-Energy-News/World-News/Algeria-Set-To-Cut-Gas-Electricity-Subsidies.html