Azerbaijan to reduce daily oil production by 7 thousand barrels

Fri 06 Dec 2019 16:05 GMT | 20:05 Local Time

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A decision has been adopted to reduce daily oil production by more than 500 thousand barrels in the first quarter of 2020 at the VI Meeting of Ministers of the OPEC Member States and the Non-Member States in Vienna, Azerbaijani Energy Ministry told APA.

Thus, the commitment to reduce daily oil production over OPEC plus has been raised to 1.7 million barrels. The distribution of additional volumes related to reducing production was carried out proportionally among the OPEC plus countries.

Azerbaijan has joined the new Agreement related to the reduction of production in additional volumes to support the global oil market regulation process.

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