‘Currently, there is close cooperation between Azerbaijan and OPEC’, Energy Minister Parviz Shahbazov told journalists after meeting with OPEC Secretary General Mohammad Sanusi Barkindo.
According to him, this cooperation is carried out in OPEC+ format: ‘This initiative has started since the end of 2016. The aim of this initiative is to prevent oil price from declining. Within this cooperation, oil prices have increased and stabilized. Oil market was balanced. All these achievements served economic processes to become more stable and economic situation to be stabilized’.
Shahbazov noted it was discussed at the meeting to create certain platforms for this initiative to be valid, hold consultation with other countries and make necessary decisions.