Oil prices were particularly attentive to OPEC and its allies who held their monthly meeting yesterday.

Oil prices started yesterday's session on the floor, reaching their highest level in 10 months. The barrel of Brent had posted $ 53.13 at 9:45 am before it fell back to $ 52.26 around 2:45 p.m., above its closing threshold of the year 2020. After this stormy start, the prices of black gold seemed to want to remain in the expectation. Back up to bounce back better probably. Oil prices were, in particular, listening to OPEC and its allies, who held their monthly meeting yesterday. The signatory countries of the Declaration of Cooperation (Doc) are ready to adjust production levels, according to the conditions and developments of the international oil market, said the Secretary-General of the Organization of the Petroleum Exporting Countries. "The results of the ministerial meeting (OPEC+) on 3 December pave the way for a gradual return of 2 mb/d to the market in the coming months, while the participating countries are ready to adjust these levels according to the conditions and developments of the international oil market," Said Mohamed Barkindo at the 47th meeting of the Joint Technical Committee (JTC), held on 3 January. The meeting preceded the 25th meeting of the Joint Ministerial Follow-up Committee (Jmmc) and the 13th OPEC-non-OPEC ministerial meeting scheduled for yesterday, the Organization of the Petroleum Exporting Countries said. in a press release published on its website. It should be remembered that the decision of OPEC+ to withdraw 7.2 million barrels has been in force since 1 January. The "23" agreed to limit the increase in their production by 500,000 barrels from that date, against nearly 2 million barrels per day initially planned. A decision that was announced at the end of the 12th ministerial meeting of OPEC+, which was held on December 3, 2020, by videoconference. On April 9, OPEC and its partners, including Russia, decided to reduce their production by nearly 10 million barrels per day, to stop the plunge in prices and to cut 7.7 million b/d from August 1, until the end of December 2020, before increasing to 7.2 million barrels per day from the beginning of 2021, which allowed Brent prices to close 2020 above $50. These cuts, combined with mass vaccination campaigns against the coronavirus pandemic, have largely contributed to restoring color to the black gold market. The current rise in prices is also supported by a rebound in the world's second and third largest economies. Sales of petrol and diesel have returned to their pre-crisis levels in both countries. Experts detect undeniable signs of a rise in prices. Mufg analysts expect a barrel of Brent to average $58 in 2021, compared to $38 in 2020, and $64 at the end of next year, which should allow Algeria to exceed the estimates in its 2021 finance law. The country expects oil revenues of $23.21 billion in 2021 based on a benchmark price of one barrel of oil at $40. A situation that should also allow a less precipitous erosion of foreign exchange reserves, which were expected to close the year at more than $44 billion. The country's foreign exchange reserves were expected to fall to $ 44.2 billion at the end of 2020 according to the estimates of the complementary finance law 2020, had indicated, on May 3, the Minister of Communication, spokesman of the government, Ammar Belhimer.