Azerbaijan joined the consensus on increasing daily oil production on OPEC plus by 400 thousand barrels for the next month

Azerbaijan joined the consensus on increasing daily oil production on OPEC plus by 400 thousand barrels for the next month

At the 22nd meeting of the ministers of the OPEC plus countries, which was held today, an agreement was reached to maintain the decision adopted at the July meeting of ministers to increase the daily crude oil production by 400 thousand barrels per month during August-December 2021.


Within the Declaration of Cooperation adopted, Azerbaijan's commitment to cut output will amount to 64,000 barrels per day in December. So Azerbaijan was provided with an opportunity to increase the daily crude oil production by 7 thousand barrels compared to November, maintaining it at 654 thousand barrels.


In response to questions addressed during the press conference after the meeting, Parviz Shahbazov said: “The decision adopted today, as always, was made on the basis of consensus and is based on facts, researches and analyses.”


It should be noted that it was agreed to hold the 23rd meeting of the ministers of the OPEC plus countries on December 2.

 

 
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