Algeria’s state finances are on the up on the back of surging oil prices which have already resulted in a 75% increase in gross oil export revenues in the first six months of the year.

Back of the envelope MEES calculations based on a 1H 2022 average price of $110/B for Algeria’s Saharan Blend crude and 930,000 b/d of oil exports (including LPG and refined products) put gross oil export revenues at $17.1bn for the first half of the year (see chart 1). (CONTINUED - 974 WORDS)