Azerbaijan to continue oil production under according to plan

  31 March 2020    Read: 857
  Azerbaijan to continue oil production under according to plan

March 31st is the deadline for the implementation of the "Declaration of Cooperation" related to the limitation of the daily volume of oil production to 1.7 million barrels for OPEC + countries, the Azerbaijani Energy Ministry told AzVision.az.

Starting April 1, Azerbaijan is free from obligations to limit oil production, said the ministry.

“In January-March, the daily oil production in the country amounted to about 754 thousand barrels,” said the ministry, stressing that Azerbaijan will carry out oil production in accordance with the plan for 2020 and the current situation.

Azerbaijan is a supporter of the stabilization of the global oil market and for this purpose took an active part in the consultations held in March to reach an agreement between the OPEC+ countries. Azerbaijan will continue to cooperate in the OPEC+ format within the framework of the Charter of oil-producing countries, the ministry added.


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