Azerbaijan's joining OPEC not on agenda – minister (UPDATE)

Oil&Gas Materials 23 April 2018 13:16 (UTC +04:00)
Azerbaijan's joining OPEC is not on the agenda

Details added (first version posted on 12:10)

Baku, Azerbaijan, April 23

By Maksim Tsurkov - Trend:

Azerbaijan's joining OPEC is not on the agenda, Azerbaijan’s Energy Minister Parviz Shahbazov told reporters in Baku April 23.

The minister noted that Azerbaijan’s cooperation with OPEC within the agreement on the oil production cut was very successful.

“Azerbaijan considers cooperation as part of OPEC+ successful, the goals are achieved, and we expect to continue this successful cooperation,” Shahbazov said.

In December 2016, at a meeting of oil producers in Vienna, 11 non-OPEC member countries (including Azerbaijan) agreed to cut the oil production by a total of 558,000 barrels a day. The agreement was concluded for the first half of 2017 and was extended until the end of the first quarter of 2018 at a meeting on May 25, 2017.

At the last OPEC meeting in Vienna, the agreement was again extended until the end of 2018. Azerbaijan supported the decision.