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25.10.2016 18:38

OPEC invites Azerbaijan to Vienna meeting

Azerbaijan has received an official invitation to the OPEC High Level Committee Meeting on the implementation of Algerian agreements, to be held in Vienna in late October, head of the press service of Azerbaijans Energy Ministry Zamina Aliyeva told Trend Oct. 24.

She said Azerbaijan intends to accept the invitation and participate in the meeting.

The invitation came today, on Oct. 24, and it will be a meeting of the relevant ministers of OPEC and non-OPEC countries, Aliyeva said. The meeting will be held in Vienna October 28-31. If nothing unforeseen happens, Azerbaijani Energy Minister Natig Aliyev will leave for Vienna.

OPEC agreed to limit oil production in the range of 32.5-33 million barrels of oil per day at an informal meeting in Algeria on September 28. However, there is no agreement on specific limits for each of the OPEC member-state.

A final decision must be made at the OPEC official meeting in Vienna on November 30.

The organization expects a number of other oil-producing countries, especially Russia, to join the measures to stabilize the market.

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