Azerbaijan’s Energy Minister Parviz Shahbazov has arrived in Vienna at the invitation of Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo, Trend reports referring to Azerbaijan’s Energy Ministry.
The minister will attend the 7th OPEC and non-OPEC Ministerial Meeting, which will be held Dec. 6. During the meeting, the situation in the world oil market will be discussed.
At the meeting, the OPEC presentation on the basis of an analysis of the development trends of the world economy and the oil market will be considered alongside performance indicators of country commitments.
The period of the “Declaration of Cooperation”, signed Dec. 7, 2018, in connection with the daily oil production cut by 1.2 million barrels under OPEC+ deal, has been extended from July 1 of this year to the end of the first quarter of 2020.