March’s oil price crash, coming on top of steadily falling output, saw gross revenues from Algeria’s crude and condensate exports fall to just $610mn – by far the lowest monthly figure in the MEES database stretching back to 2009 (see chart 1).

Indeed the figure is likely the lowest since 2002, when Algeria’s exports were 50% higher than current levels but crude prices averaged just $24/B. (CONTINUED - 884 WORDS)