BAKU, Azerbaijan, June 19. Reducing carbon emissions is essential for sustainable energy security, Minister of Energy of Azerbaijan Parviz Shahbazov said during the meeting with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais, Trend reports.
According to the Ministry of Energy, issues related to cooperation between OPEC and Azerbaijan, the country's participation in regulating the world oil market, as well as the current situation and development trends regarding the dynamics of supply and demand were discussed at the meeting.
"The development of the oil and gas sector by reducing carbon emissions is important for sustainable energy security. Azerbaijan needs cooperation on a broader platform with the participation of OPEC, other countries and organizations based on this approach. We must develop our efforts to stabilize the oil market in this direction as well," the minister said.
The deepening of relations between the OPEC secretariat and Azerbaijan, the contribution of cooperation in the OPEC+ format to Azerbaijan's partnership with the organization's member countries in the field of green energy were also discussed during the meeting.
Meanwhile, the total level of crude oil production for both OPEC and non-OPEC countries will be set at 40.4 million barrels per day.
Azerbaijan is expected to adjust crude oil production to 551,000 barrels per day during 2024.