Baku / 08.12.18 / Turan: At the ministerial meeting of OPEC + in Vienna on Friday, an agreement was reached to reduce daily oil production by 1.2 million barrels compared to October.
From January 2019, OPEC (Organization of the Petroleum Exporting Countries) member countries will cut production by 800 thousand barrels, and non-cartel countries - by 400 thousand barrels.
"In order to support the regulation of the world oil market, Azerbaijan has also joined the agreement. Azerbaijan, where in October daily oil production amounted to 783 thousand barrels, pledged to cut production by 20 thousand barrels and maintain it at 763 thousand barrels per day," the country"s Energy Ministry said.
The head of the department, Parviz Shahbazov, highly appreciated this decision of the OPEC + countries. "Today"s decision is very important for oil producers and, in general, for the oil market and industry," the Minister said. -06D-
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