The head of state thinks that reduction of product by OPEC members and non-member countries may stabilize the prices: “The course of events shows that this will happen. However, the sides should be sincere, honest and a mechanism should be created to control the fulfilment of decisions. Currently, the situation in the oil market may cause oil price to stay at $60 even $70 and this is useful for all sides”.
The president added that Azerbaijan always supports such steps and stated this repeatedly: “We unambiguously state that we’ll not increase oil production. For this purpose, we don’t need to wait for any decision. In a sense, this may be called as output freeze”.