OPEC member-states Oil Ministers have agreed to preserve oil production rate at 30 million barrels a day and leave Abdulla Salem El-Badri on the position of General Secretary OPEC til the end of next year, Rafael Ramires, Oil Minister of Venezuela, told journalists yesterday after the OPEC session.
The next OPEC session is scheduled for June 2014, Ramires said.
He also said that OPEC member-states will be forced to change oil production rate, if Iran’s oil returns to the world market after lifting of the international sanctions against the country.
“When Iran restores export volume after the sanctions, we will have to change the production rate,” Ramires said.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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