The Minister of Energy of the Republic of Azerbaijan will attend the 8th Ministerial meeting of the “OPEC plus”

The Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov paid a visit to Vienna, Austria at the invitation of Mohammed Sanusi Barkindo, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC). The Minister will attend the 8^th OPEC and non-OPEC Ministerial Meeting, which will be held on March 6.

At the Vienna meeting of the “OPEC plus” ministers, the status of global oil market will be discussed and the level of production for the period after March will be reviewed.

It should be mentioned that the 7th OPEC and non-OPEC ministerial meeting held on December 6 decided to decrease the oil production per day for “OPEC plus” by another 500,000 barrel. According to the new Declaration of Cooperation the commitment for Azerbaijan was set as 27,000 barrel by increasing another 7 thousand barrels. Implementation of the Declaration of Cooperation will be completed by the end of March 2020.