Oil output should be reduced to keep stability in market – Azerbaijani minister

Azerbaijan supports extension of the Vienna agreement, minister of energy Natig Aliyev said.

“As you know, OPEC and non-OPEC countries will discuss the report of Monitoring Group at an extra-ordinary meeting to be held on May 24. Depending on these discussions, it will be passed a decision whether the agreement will be extended or not. However, I think that December’s decision had impact on the market and oil price remained at around $50-60. Therefore, I think the agreement should be extended in order to keep the stability. This decision is in favour of Azerbaijan”, he said.


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