Azerbaijan’s Energy Minister: “Stability in oil market is impossible beyond shared responsibility at global level”

Azerbaijan’s Energy Minister: “Stability in oil market is impossible beyond shared responsibility at global level”
  • Clock-gray 09:19
  • calendar-gray 10 April 2020

“We have been more confident in a short period of time from March of this year until now that durable stability in oil market is impossible beyond shared responsibility, regulation process”, said Azerbaijan’s Energy Minister Parviz Shahbazov while his speech at 9th ministerial meeting of member and non-member states of the Organization of the Petroleum Exporting Countries (OPEC) held in the form of video-conference yesterday, the Ministry told APA-Economics.

According to him current situation and the world economy, as well as, uncertainty about whether global oil demand will recover make necessary support to oil market in the future too. Involvement of non-members of OPEC+ (initiative on cutting oil production, which covers members and non-members of Organization of Petroleum Exporting Countries (OPEC)) to the process is very essential.

Emil Ismayilov

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