Baku. 8 December. REPORT.AZ/ At the 5th meeting on Friday in Vienna, OPEC and non-OPEC countries reached a deal to take 1.2 million barrels per day off the market from January 2019. The OPEC members has agreed to reduce its output by 800,000 bpd, while non-OPEC countries will contribute a 400,000 bpd reduction.
Report informs citing Energy Ministry, Azerbaijan also joined the deal.
‘Azerbaijan, of which daily output was 783,000 barrels per day in October, undertook commitment to reduce the output by 20,000 barrels per day. So Azerbaijan’s daily output should be 763,000 barrels per day from next year’, the ministry said.
Commenting on the new decision, the Minister
OPEC countries will cut the output for six months.