BAKU, Azerbaijan, July 5. Azerbaijan and OPEC maintain effective and constructive cooperation within the OPEC+ format, the Ministry of Energy of Azerbaijan said in response to Trend's request in regard with the invitation to join OPEC.
The Ministry further clarified that Azerbaijan has consistently offered vital support to initiatives concerning the regulation of the oil market, and the cooperation within this framework proves mutually beneficial.
Azerbaijan's membership in the OPEC+ format plays a crucial role in ensuring market balance through the regulation of oil production.
As per the decision made on June 4 by OPEC+, it is anticipated that Azerbaijan will align its crude oil production to reach 551,000 barrels per day by 2024.