BAKU, Azerbaijan, June 4. Azerbaijan always supports preventive measures of the OPEC+, Minister of Energy of Azerbaijan Parviz Shahbazov said, Trend reports.
“We adopted another decision serving for a balance and stability in the global oil market within the OPEC+ format. Azerbaijan always supports the preventive measures of the OPEC+, which minimise the risks negatively affecting the development of the oil sector,” the minister wrote on his Twitter page, commenting the decision made by the block, following the 35th Ministerial Meeting held in Vienna today.
Thus, the overall crude oil production level for both OPEC and non-OPEC countries will be set at 40.46 mb/d, as the block agreed.
Azerbaijan is expected to adjust its crude production to 551,000 barrels per day throughout 2024.