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Egypt will not join OPEC + agreement
Energy
- 13 October, 2017
- 06:21
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Baku. 13 October. REPORT.AZ/ Egypt will not participate in OPEC + agreement on oil production cut.
Report informs citing the Bloomberg, Prime Ministers of Egypt Sherif Ismail.
According to him, because Egypt almost does not export oil it will not join OPEC + agreement. Thus, the oil extracted in Egypt is mainly used at local oil refineries. “We export very little volume of oil, which does not affect the oil market. This basically should be addressed to countries exporting 1-2 million. barrels / day", - the prime minister said.
Notably, last week, Venezuela's oil minister Eulogio del Pino offered Egypt to join OPEC + agreement during the meeting with Egyptian Oil Minister Tarek El Molla.
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