Azerbaijani energy minister: OPEC+ agreement contributes to stabilization of economic situation

Baku, March 20, AZERTAC

“OPEC+ agreement on reduction of the volume of oil output contributes to stabilization of economic situation in countries,” Azerbaijani Energy Minister Parviz Shahbazov has told journalists after he met with OPEC Secretary General Mohammad Barkindo in Baku.

He said Azerbaijan and OPEC maintain close cooperation under OPEC+ format. “As part of this cooperation oil prices have somewhat increased, stabilized and the balance has been ensured on the oil market over the past period.” The minister said this contributed to the stabilization of global economic processes and economic situation in countries.

“Today we have had a wide exchange of opinions with Mr Barkindo about the creation of a certain platform to ensure the implementation of this initiative in the future, hold consultations with other countries and adopt necessary decisions,” Shahbazov added.

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