Azerbaijani President: Control mechanism needed to monitor OPEC oil production deal

Baku. 18 October. REPORT.AZ/ Azerbaijan advocates for the establishment of a mechanism to monitor a production agreement among the Organization of the Petroleum Exporting Countries (OPEC) and other oil producing countries. 

Report informs President of Azerbaijan Ilham Aliyev told Sputnik International News Agency.

President Ilham Aliyev told Dmitry Kiselev, Director General of Russia today International News Agency that an agreement on a single policy among OPEC and non-OPEC countries would serve as "the main stabilizing factor" in the oil market: "The way we see events developing, I think we are close, and I think that this should take place," Aliyev said. OPEC reached an agreement on September 28 on an output ceiling of up to 33 million barrels a day, with the date of the production freeze expected to be announced at its November meeting in Vienna. "All sides need to be most sincere, honest, and there needs to be an effective mechanism to monitor the implementation of the adopted decisions, if any", Azerbaijani President stated.