Azerbaijan supports any decision aimed at oil price stabilization

Baku. 1 December. REPORT.AZ/ Azerbaijan supports any decision aimed at stabilization of oil price. 

Minister of Energy Natig Aliyev considers the decision on reduction of oil production taken at the 171st meeting of Organization of Petroleum Exporting Countries (OPEC) on November 30 in Vienna, as an important measure to establish a balance in oil market. 

Report informs, the minister believes it will be possible to reestablish stability in oil market only if the decision of OPEC countries to cut production for 1.2 million barrels per day is to keep in a long term.

“Talking about Azerbaijan’s attitude, it is widely known that, Azerbaijani president unilaterally declared that Azerbaijan will not increase oil production and export. We say once again that Azerbaijan has no intention to take measures towards rise of oil production”, N.Aliyev added.

Regarding OPEC’s meeting with countries which are not members of the cartel, N.Aliyev said that official Baku will take part at the meeting if they invite and consider Azerbaijan's attendance necessary: “I think the issues related to reduction of production by non-OPEC countries will be talked at the meeting. Azerbaijan is ready to accept proposals and make its contribution to the process of raising oil price”.