Baku, Azerbaijan, Oct.20
By Maksim Tsurkov - Trend:
The issues to be discussed during the technical meeting of experts from OPEC and non-OPEC countries are not of great importance for Azerbaijan, the country's Energy Minister Natig Aliyev told reporters Oct.20.
The minister said Azerbaijan was invited to participate in the OPEC meeting in Vienna, Austria, Oct.21.
"However, it was decided that Azerbaijan has no special need to take part in this meeting," said Aliyev.
The energy minister noted that although the OPEC meetings focus on the important issues, for example, reducing the volume of daily oil production, the cartel countries led by Saudi Arabia have never taken this step.
"Naturally, if OPEC adopted such a decision on time, possibly, the oil prices would be higher and this would be beneficial for Azerbaijan as well," said Natig Aliyev, adding that meanwhile, the non-OPEC countries attempted to reduce the oil production.
"As is known, the oil produced in Azerbaijan belongs to the consortium, therefore, the state or the country's government can't adopt decisions on this issue," said the energy minister.
Currently, the quota set for the oil production is 30 million barrels per day.
Despite the continuing decrease in oil prices, OPEC countries can't agree on reducing the quotas for production which could stabilize the prices. The main country opposing the production cuts is Saudi Arabia, the largest oil exporter in the world.
Edited by SI
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