ECONOMY
Alexander Novak: Decision of OPEC will allow to lower volatility of oil prices
Baku, September 30, AZERTAC
“The decision which was made yesterday, allowing to speak about advance on flexibility of the countries and about those objectives which are designated in the joint statement of the OPEC countries, will allow to lower, in my opinion, volatility of the prices which today we observe, to reduce participation in volatility of the prices of a speculative factor. And for today we see that the prices quite positively reacted to these decisions, Russia’s energy minister Alexander Novak said.
On Wednesday night after hours-long negotiations in Algeria the OPEC countries approved restriction of the level of production of oil in the range 32,5-33 million barrels a day.
As stated, it is supposed to apply special conditions to Nigeria, Libya and Iran. The final decision shall be made at the next official meeting of OPEC on November 30 in Vienna.
FEEDBACK
Other news in this section
- 29.08.2023 [10:41]
Oil prices fall in world markets
- 29.08.2023 [10:34]
Azerbaijani oil price sells for $88.56
- 28.08.2023 [16:41]
Shah Deniz celebrates 200 billion cubic metres of total gas production
- 28.08.2023 [10:49]
Oil prices rise in world markets
- 26.08.2023 [10:53]
Azerbaijani oil price exceeds $88
- 26.08.2023 [10:36]
Oil prices rise in world markets
- 25.08.2023 [11:00]
Azerbaijani oil price drops in world markets
- 25.08.2023 [10:21]
Oil prices rise in world markets
- 24.08.2023 [10:57]
Oil prices fall in world markets
Azerbaijan, Bahamas Gymnastics Federation embark on cooperation
- 23.04.2024 [15:57]
Slovenia hosts high-level conference of Nizami Ganjavi International Center
- 23.04.2024 [15:18]
Azerbaijan Army’s tanks units hold competition, Defense Ministry VIDEO
- 23.04.2024 [15:02]
Azerbaijan produces over 7 billion kWh of electricity in Q1 2024
- 23.04.2024 [14:43]
Another 39 families relocated to Fuzuli city get house keys VIDEO
- 23.04.2024 [14:01]
Tunisia, Algeria, Libya agree to advance cooperation
- 23.04.2024 [13:59]
Copernicus report shows year of weather extremes in Europe
- 23.04.2024 [13:33]
Heydar Aliyev International Airport: the path to development
- 23.04.2024 [13:03]
Azerbaijan, Albania abolish visa regime
- 23.04.2024 [12:44]
Oil prices in global markets
- 23.04.2024 [11:24]
Türkiye hosts inaugural event on ocean action, climate crisis
- 23.04.2024 [11:02]
Azerbaijani oil price declines in global markets
- 23.04.2024 [11:00]
4 missing after vessel hit bridge in China's Guangdong
- 23.04.2024 [10:19]
10 killed after 2 Malaysian military helicopters crash
- 23.04.2024 [10:12]
Inter Milan win Italian Serie A title with 5 games left
- 23.04.2024 [09:57]
Pakistan-Azerbaijan Economic Integration Model: An Expert Opinion
- 22.04.2024 [23:55]
Azerbaijani FM embarks on official visit to Czech Republic
- 22.04.2024 [23:47]
President Ilham Aliyev concluded his working visit to Russia
- 22.04.2024 [23:32]
President of Russia: BAM shapes global logistics for the entire 21st century
- 22.04.2024 [21:34]
Chair of Georgian Parliament’s committee visits Milli Majlis
- 22.04.2024 [21:08]
Presidents of Azerbaijan and Russia had joint dinner
- 22.04.2024 [20:55]
Jordan welcomes Azerbaijan-Armenia agreement and border demarcation efforts
- 22.04.2024 [19:06]
Azerbaijani boxer beats Armenian rival at European Championships in Serbia
- 22.04.2024 [18:53]
Egypt reclaims 3,400-year-old stolen statue of King Ramses II
- 22.04.2024 [18:20]
Baku Engineering University teams shine at Robotex Türkiye
- 22.04.2024 [17:56]