Caspian Energy Journal Caspian European Club
Friday, 01 December 2017 09:30

OPEC countries come to an agreement

 Third ministerial meeting of OPEC and non-OPEC states took place yesterday. Participating in the meeting were representatives of 30 countries: 24 participants of the Vienna agreements and 6 countries-observers. Caspian Energy News ( reports with reference to the press service of the Ministry of Energy of Azerbaijan.

In the course of discussions the parties came to an agreement to extend a treaty on reduction of oil production till the end of 2018.

“Azerbaijan has fully fulfilled the obligation to reduce daily production by 35,000 barrels per day”, Minister of Energy of Azerbaijan Parviz Shahbazov said during the meeting.

Minister of Energy of UAE Suheyl Al-Mazrui will be appointed to the position of OPEC Secretary from January 1, 2018. The next ministerial meeting has been fixed to June 2018.

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