The Azerbaijan State News Agency

ECONOMY

OPEC AFRAID OF ITS FAILURE TO COOL PRICES

The Organization of Petroleum Exporting Countries Thursday expressed its concerns over the oil prices.

Indonesia's OPEC governor Maizar Rahman and OPEC Secretary General warned that the 11 OPEC countries were currently operating at close to their production limits.

OPEC output is currently at 29 million barrels per day, some 3.5 million barrels over the 25.5-million-barrel quota set in early June.

The reference basket price for 7 crude oil sorts produced by OPEC members hit 37.5 dollars per barrel on Wednesday.

Share news on social media

Follow us on social network

Other news in this section

Oil prices fall in world markets
  • 29.08.2023 [10:41]

Oil prices fall in world markets

Azerbaijani oil price sells for $88.56
  • 29.08.2023 [10:34]

Azerbaijani oil price sells for $88.56

Shah Deniz celebrates 200 billion cubic metres of total gas production
  • 28.08.2023 [16:41]

Shah Deniz celebrates 200 billion cubic metres of total gas production

Oil prices rise in world markets
  • 28.08.2023 [10:49]

Oil prices rise in world markets

Azerbaijani oil price exceeds $88
  • 26.08.2023 [10:53]

Azerbaijani oil price exceeds $88

Oil prices rise in world markets
  • 26.08.2023 [10:36]

Oil prices rise in world markets

Azerbaijani oil price drops in world markets
  • 25.08.2023 [11:00]

Azerbaijani oil price drops in world markets

Oil prices rise in world markets
  • 25.08.2023 [10:21]

Oil prices rise in world markets

Oil prices fall in world markets
  • 24.08.2023 [10:57]

Oil prices fall in world markets

Seven new countries join International Chovken Federation

  • [22:35]

Brussels hosts concert program marking Azerbaijan’s Victory Day

  • [22:32]

Nizami Ganjavi International Center delegation meets with Italian President Sergio Mattarella

  • [22:25]

Azerbaijan’s Victory Day celebrated in Prague

  • [22:21]

Latvia hosts official reception marking Azerbaijan’s Victory Day

  • [22:21]

Azerbaijan’s Victory Day marked in Brazil

  • [21:32]

Azerbaijani, Bulgarian foreign ministries hold 6th round of political consultations

  • [21:27]

Participants of Azerbaijan NGOs Cooperation Forum addressed President Ilham Aliyev

  • [21:10]

UN Governance Innovation Summit concludes in Baku

  • [20:39]

6th anniversary of Azerbaijan’s Victory Day celebrated in Algeria

  • [20:35]

Azerbaijani Embassy in Tajikistan marks Victory Day

  • [20:31]

UN Governance Innovation Summit announces Baku Communiqué

  • [19:54]

President Ilham Aliyev and First Lady Mehriban Aliyeva attended inauguration of first phase of Jahangirbeyli village in Zangilan VIDEO

  • [19:48]

AzerGold organizes a series of events marking Victory Day

  • [19:24]

Azerbaijan’s Victory Day celebrated in Kenya

  • [19:18]

Innovative governance solutions developed at ASAN Khidmet–UN Summit

  • [19:09]

Kenyan cult leader sentenced to 200 years in prison over deaths of 191 followers

  • [18:58]

AFFA officials attend UEFA’s annual conference

  • [18:52]

Diplomatic hopes drive 15.5% weekly drop in European gas prices

  • [18:51]

Romanian media highlights cargo shipments to Mexico via Middle Corridor

  • [18:46]

Azerbaijan, UN discuss prospects for cooperation

  • [18:38]

® 1,250 trees planted in one day with ABB Bank's support

  • [18:36]

Photo exhibition “Revival of Garabagh: The Story of Azerbaijan’s Renaissance” on display in Baku Metro

  • [18:25]

Two planes land at Sofia Airport following bomb threats

  • [18:21]

Azerbaijan’s Victory Day celebrated in China

  • [18:19]

Azerbaijan, ESCWA explore avenues for practical cooperation

  • [18:19]

President Ilham Aliyev and First Lady Mehriban Aliyeva attended opening of Zangilan City Education Complex VIDEO

  • [18:12]

President: Return of IDPs to their native lands was greatest dream of every citizen

  • [18:10]

Azerbaijan’s tumbling team crowned world champions for third time

  • [17:58]

President Ilham Aliyev: Our people and future generations will always take pride in our Victory

  • [17:53]

Albania’s Fier Memorial Hospital performs first permanent pacemaker surgery

  • [17:47]

Romanian media highlights Azerbaijan’s Victory Day

  • [17:44]

Global food prices fall 1.2% in October as cereal, meat, dairy prices ease

  • [17:42]

Azerbaijan and Suriname discuss prospects for cooperation in trade, investment and energy

  • [17:41]

Winners of sports competitions marking Victory Day awarded at Baku Engineering University

  • [17:38]

Ambassador: China and Azerbaijan will celebrate 35th anniversary of establishment of diplomatic relations in 2027

  • [17:38]

November 6 marks International Day for Preventing the Exploitation of the Environment in War and Armed Conflict

  • [17:31]

Azerbaijani delegation attends SPECA Week events

  • [17:30]

“Made in Azerbaijan” products showcased at China International Import Expo

  • [17:21]

Azerbaijan Airlines prepares next generation of aircraft maintenance specialists

  • [17:19]

Azerbaijan and China explore new air connectivity opportunities

  • [17:08]

China and Azerbaijan eye enhancing collaboration across 4 global initiatives, ambassador says

  • [17:04]

UN refugee agency warns nearly 90M displaced people face severe climate risks

  • [16:46]

China stands ready to strengthen AI cooperation with Azerbaijan

  • [16:45]

International summit participants visit ASAN Khidmet Center in Baku

  • [16:33]

First phase of Soltanli village in Jabrayil district inaugurated VIDEO

  • [16:00]

6.1-magnitude earthquake hits eastern Japan coast: JMA

  • [15:57]

Baku State University, University of Georgia sign MoU

  • [15:40]

President Ilham Aliyev and First Lady Mehriban Aliyeva attended opening of non-alcoholic beverage production facility in Jabrayil district VIDEO

  • [15:40]

Egyptian radio airs program on Egypt-Azerbaijan relations

  • [15:28]

Military marches and performances by military bands to be held for national holidays

  • [15:27]

Georgian delegation visits special educational institutions under National Defense University

  • [15:25]

YAP Deputy Chairman elected Vice-Chairman of ICAPP Bureau

  • [14:57]

Lu Mei: Demining cooperation between China and Azerbaijan contributes to global security

  • [14:40]

® Azercell awards two Toyota Corolla Cross vehicles and 14 iPhone 17 Pro smartphones in the first draws of the “30 il səninlə” lottery

  • [14:14]

Ambassador highlights strong potential and dynamic development of Azerbaijan-China relations

  • [13:55]

Azerbaijan explores public administration issues with foreign partners

  • [13:45]

Astana hosts Aqaba Process Summit on AI security

  • [13:28]

Tree-planting campaign held at Lachin’s “Beylik Gardens” with Garabagh Revival Fund funding

  • [13:24]

Ambassador: Trade between China and Azerbaijan reaches record high

  • [13:11]

From Mohammed Abunayyan, Founder and Chairman of the Board of Directors of Acwa Power, Kingdom of Saudi Arabia

  • [13:06]

Almost all coral reef ecosystems face risk of collapse in 50 years, study warns

  • [13:06]

Bulgarian naval research vessel Sv. Sv. Kiril i Metodii to head for Dardanelles on Fifth Antarctic voyage

  • [13:06]

Mexican media outlet highlights President Ilham Aliyev’s strategic leadership

  • [12:56]

Presidential Library hosts event dedicated to National Flag Day

  • [12:31]

Kubler lifts Freiburg past Trabzonspor as Lugano takes Conference League lead

  • [12:09]

U.S. forces in Japan's Okinawa to extend night curfew for another month

  • [12:06]

Two universities from Kyrgyzstan named among best in Central Asia

  • [12:05]

Azeri oil price reaches $107

  • [12:05]

Baku hosts CIMIC training course

  • [11:13]

Azerbaijan, Ukraine adopt Action Plan for Development of Economic Cooperation

  • [11:06]

Marseille ends Leverkusen's unbeaten run as Benfica stays top in Europa League

  • [10:57]

Oil prices rise on global markets

  • [10:49]

Gold and silver prices decline on global markets

  • [10:49]

Azerbaijan`s Victory Day marked in Rome

  • 05.11.2026 [22:14]

US first lady highlights ceasefire in Oleshky; urges lasting Russia, Ukraine peace

  • 05.11.2026 [22:01]

North Korea likely to secure UNESCO listing for taekwondo

  • 05.11.2026 [21:35]

Dutch airline KLM announces restructuring affecting around 5,000 positions

  • 05.11.2026 [21:35]

Barcelona captain Raphinha extends contract until 2030

  • 05.11.2026 [21:19]

Two major UK airports ‘targeted by bomb threats’ – after flights across Europe rocked by alerts

  • 05.11.2026 [21:03]

Eiffel Tower closed amid nationwide protests, strikes in France

  • 05.11.2026 [20:55]

Azerbaijan’s Labor Ministry hosts delegations from Djibouti and Guinea-Bissau

  • 05.11.2026 [20:54]

Regional solutions for resilient, adaptive and anticipatory institutions discussed at Baku-hosted international summit

  • 05.11.2026 [20:24]

Baku-hosted international summit explores governance innovations

  • 05.11.2026 [20:20]

Azerbaijan, FAO discuss cooperation, joint projects

  • 05.11.2026 [20:14]

Top stories update

  • 05.11.2026 [20:00]

Baku-hosted international summit features discussions on leadership in building prosperous and inclusive societies

  • 05.11.2026 [19:52]

Azerbaijan’s Parliament Speaker embarks on working visit to Kazakhstan

  • 05.11.2026 [19:36]

Azerbaijan, Estonia explore possibility of holding business forums

  • 05.11.2026 [19:11]

Azerbaijan, Greece discuss cooperation in digital development

  • 05.11.2026 [19:06]

Baku hosts discussions on new institutional models for evolving governance landscape

  • 05.11.2026 [18:59]

Azerbaijan, Ukraine hold business roundtable

  • 05.11.2026 [18:58]

Azerbaijan to promote Garabagh’s investment opportunities in Türkiye

  • 05.11.2026 [18:41]

Baku hosts First Azerbaijan Regional Aquaculture Forum

  • 05.11.2026 [18:30]

From Shavkat Mirziyoyev, President of the Republic of Uzbekistan

  • 05.11.2026 [18:26]

Azerbaijan’s Victory Day celebrated in Berlin

  • 05.11.2026 [18:00]

Kenyan Prime Cabinet Secretary highlights importance of expanding cooperation with Azerbaijan

  • 05.11.2026 [17:45]

Polish media highlights Azerbaijan’s growing role in Middle Corridor

  • 05.11.2026 [17:43]

French lawmakers reject 2027 budget revenue section with no votes in favor

  • 05.11.2026 [17:41]

UN presents Azerbaijan with special certificate in recognition of “ASAN Khidmet”

  • 05.11.2026 [17:41]