An Oil Country No More? Algerian Energy Exports Sink Rapidly

February 12, 2021/in /by Rudolf Huber

Algeria fell victim to its own hubris. When oil prices were sky-high Algeria became very cocky and squeezed the lemon a little too hard. Every oil and gas producer goes down this road when prices are high. They always assume that the good times will last forever and the world will always beat a path to their door. Until it does not anymore. It takes time to understand the new realities. And sometimes it’s just not possible to step back and admit that one needs to change his ways. Algeria has a large, young population. Domestic energy use soars. Production goes down. The first nation to export LNG might become a gas importer one day. Crazy?

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