BAKU, Azerbaijan, Nov.30
By Leman Zeynalova – Trend:
One of the upcoming OPEC meetings is planned to be held in Azerbaijan, Azerbaijan’s Minister of Energy Parviz Shahbazov said in an exclusive interview with Trend.
“OPEC+ format was for the first time initiated by Azerbaijan’s President Ilham Aliyev during the Davos Forum in January 2016. Currently, this cooperation format is an important tool in ensuring a balance in the global market and keeping the prices stable.
The OPEC+ deal is of particular importance with increasing likelihood of fluctuations in global markets due to the COVID-19 pandemic. This cooperation not only meets the interest of the participating producers and exporters, but also regulates the global oil market in accordance with the changing situation under the influence of numerous factors and risks.
Azerbaijan closely cooperates with OPEC. Baku hosted the 13th meeting of the Joint Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Monitoring Committee (JMMC) in 2019 at the invitation of President Ilham Aliyev,” said the minister.
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