Azerbaijan is active participant of oil price stabilization process

Azerbaijan is active participant of oil price stabilization process
Azerbaijan oil price stabilization

Azerbaijan is an active participant of the process of stabilization of oil price, said the Minister of Energy Parviz Shahbazov at the 4th SOCAR International “Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals”.

According to him, the organization of OPEC conference in Baku in March was an indicator of the recognition of the value of Azerbaijan’s historical and modern role as an oil producing country.

It should be noted that Azerbaijan is one of the participants of the initiative to maintain a stable level of oil production within OPEC +.

The Minister noted that about $ 9.8 billion oil and gas revenues of the last year proved how the right decision Azerbaijan took in joining the process. The prolongation of this initiative in June will also depend on the level of some geopolitical issues and the commercial oil reserves.