Baku, Azerbaijan, May 19
By Maksim Tsurkov – Trend:
The oil price has been stable since January 2017 and the current prices suit all oil producers, Azerbaijani Energy Minister Natig Aliyev told a meeting with US Ambassador to Azerbaijan Robert Cekuta.
During the meeting, the sides mulled the situation in the world energy markets prior to the 172nd OPEC Ministerial Council meeting in Vienna, reads a message from the Azerbaijani Energy Ministry.
Aliyev and Cekuta also exchanged views on the impact of economic and political factors on oil prices, and on possible steps for energy extraction in Iran, Iraq, Libya, Saudi Arabia, Russia and Kazakhstan.
The sides discussed the agreement between Russia and Saudi Arabia to extend the deal on oil output cut by late March 2018, and noted that the extension of the deal by the end of 2017 is more reasonable.
“In general, despite the small price changes, the oil price has been stable since January and the current prices suit all producers,” Aliyev said.
He added that now Azerbaijan’s main goal is to ensure the timely completion of the Southern Gas Corridor project.