Azerbaijan and Saudi Arabia have discussed the ways of expanding energy cooperation as Minister of Energy Parviz Shahbazov met with President of the OPEC Conference, Minister of Energy, Industry and Natural Resources of Saudi Arabia Khalid Abdulaziz Al-Falih on the sidelines of the 3rd OPEC and non-OPEC ministerial meeting in the Austrian capital of Vienna.
They discussed results of the agreement on reduction of oil production, current situation in the oil market as well as cooperation within Azerbaijan OPEC + deal.
Al-Falih stressed the successful cooperation between the OPEC and non-OPEC nations. He touched on oil position in the global energy balance. “In spite of the strengthening of the new tendencies in the energy sector, the oil will remain a priority type of fuel for a long time,” Al-Falih noted. He said that Saudi Arabia is interested in cooperating with Azerbaijan in petrochemical and oil processing industry.