The Azerbaijan State News Agency

ECONOMY

Azerbaijan to be represented at OPEC+ ministerial monitoring committee meeting

19.04.2018 [11:19]
Print
A⁺ A^-

Baku, April 19, AZERTAC

Azerbaijan will be represented at the meeting of the OPEC+ ministerial monitoring committee, due on April 20, in Jeddah, Saudi Arabia, the Azerbaijan Energy Ministry said.

Azerbaijan will be represented by Deputy Energy Minister Samir Valiyev at the meeting.

The OPEC+ monitoring committee was established to monitor the fulfillment of obligations to reduce oil production.

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.