Azerbaijani energy minister hopes Vienna agreement to continue

# 13:18
19 May 2017

At the same time, taking into account the leading role of Azerbaijan in stabilization of oil prices, OPEC Secretary General Mohammed Sanusi Barkindo and Kuwait's Minister of Oil and Chairman of the OPEC's Joint Ministerial Monitoring Committee (JMMC) Essam Al­ Marzouq offered to meet with Natig Aliyev.


Extension of Agreement or any decision will be made at the meeting of the Council of Ministers.


The minister thinks that OPEC and non-OPEC countries the Vienna Agreement dated December 10, 2016 was a historical decision: “The unanimous position shared by oil producing and exporting countries provided successful result of the agreement in the first half of 2017. Stabilization of the oil price proved that joint decision of OPEC and non-OPEC was active and a way out of the problem occurred five months ago was correct. There is a need for continuation of results of the Vienna agreement. Therefore, all oil producing countries should participate in this process and act jointly for common interest. As a side signing the agreement on reduction of oil output, Azerbaijan is ready to take next step for stabilization of oil prices in the world market”.