The two officials, who talked on the sidelines of the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government, discussed the factors influencing the oil market, the oil industry’s role in the OPEC member states’ budgets, and prediction of oil prices in 2024.

Geopolitical impacts on global oil prices, increase in global demand for oil stemmed from economic growth, investments in the OPEC member states’ oil projects, and their commitment to the Organization of the Petroleum Exporting Countries and particularly to the OPEC+ alliance were also among the topics Owji and Al Ghais discussed.  

Heading a high-ranking delegation, Iran’s President Seyyed Ebrahim Raeisi is in Algiers to attend the 7th GECF Summit.