Brent crude price exceeds 57 USD first time in a year

Baku. 12 December. REPORT.AZ/ Brent crude oil price exceeded 57 USD per barrel for the first time since July 21, 2015.

Report informs referring to auction results.

Non OPEC countries held a meeting on December 10 in Vienna. The meeting was attended by 12 countries. In the end, 11 countries signed an agreement to reduce production by 558,000 barrels per day since January 2017. 

Azerbaijan agreed to reduce oil production by 35,000 barrels per day.