Azerbaijan is in solidarity with the position of OPEC plus on the regulation of the oil market

At the 34th online Meeting of Ministers of the Organization of Petroleum Exporting Countries (OPEC) member and non-member countries, Azerbaijan also agreed to uphold the decision adopted in October 2022.

Thus, the obligations of the participating countries of the Declaration of Cooperation, determined according to the quotas in August of the current year, shall be kept stable. Azerbaijan's commitment to cuts remains unchanged with a daily rate of 33 thousand barrels and a daily quota of 684 thousand barrels of crude oil production.

It was agreed to hold the next Ministerial Meeting of OPEC plus countries on June 4 of next year.