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Azerbaijan agrees to increase oil production in July within OPEC+

01 June 2021 23:42 (UTC +04:00)

At the 17th Ministerial Meeting of OPEC and non-OPEC countries in a video conference format, it was agreed to keep the decision to increase production in force for July, APA reports citing the Ministry of Energy of Azerbaijan.

At the meeting attended by the Minister of Energy Parviz Shahbazov, Azerbaijan has also agreed to keep the plan for maintaining the commitments of daily oil output cut for the participatants of the Declaration of Cooperation at 5.76 million barrels in force in July.

Within the Declaration of cooperation adopted, Azerbaijan's commitment to cut output will remain 98,000 barrels per day in July. This means that crude oil production will be increased by 10,000 barrels. Thus, crude oil production in the country will be maintained at 620,000 barrels per day in July.