International Energy Forum discusses thorny energy crisis ahead of OPEC meeting

Global energy perspectives and challenges were at the top of the agenda at the 15th International Energy Forum (IEF15) which opened on Tuesday in Algiers.

The forum comes ahead of the Organization of Petroleum Exporting Countries (OPEC) meeting which starts on Wednesday.

The forum comes on the heels of developments in the energy sector, with OPEC member countries expected to use their meeting on Wednesday to reach an agreement that will stabilize the oil sector as well as regulate the price of the commodity.

“This is a very important meeting because the energy issue is a matter of paramount importance on many subjects. I am happy to be here as the President of COP 21. Algeria and the Algerian government have played a very positive role in the success of the climate agreement, “ said French Minister of Environment, Segolene Royal.

Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets.

AFP