4th OPEC and non-OPEC Ministerial Meeting starts in Vienna

Baku. 23 June. REPORT.AZ/ 4th OPEC and non-OPEC Ministerial Meeting is being held in Vienna. Report informs, Azerbaijani Energy Minister Parviz Shahbazov is also attending the meeting.

Yesterday, during 174th meeting of OPEC it was decided to increase daily volume of oil production by 1 mln bbl.

At the meeting, the Conference decided that its next Ordinary Meeting will convene in Vienna, Austria, on 3 December 2018. The Conference considered Congo’s request to join the Organization and decided to approve its admission with immediate effect. Noting that OPEC Member Countries have exceeded the required level of conformity that had reached 152% in May 2018.

Discussions are under way on the new decision of the Council of Ministers at 4th meeting of the OPEC and non-OPEC ministers and the new production strategy will be officially adopted.

The 6th meeting of OPEC and non-OPEC ministers will be held in Baku next summer.