OPEC+ Ministerial Committee`s meeting to be held in Baku on 18 March


January 18, Fineko/abc.az. The 13th Ministerial Meeting of OPEC and non-OPEC countries will be held in Baku on 18 March.

OPEC reports that members and non-members of OPEC will participated in the meeting. The Committee will monitor the new OPEC+ deal that came into force from January 2019.

The Ministry of Energy of Azerbaijan also reported that the 27th meeting of the Joint Technical Commission of the OPEC Monitoring Committee will be held in Baku on 17 March.

At the 5th meeting of the ministers of OPEC member states and countries out of the cartel, held in Vienna on 7 December 2018, an agreement was reached on oil production cuts by 1.2 million bpd from the level of October 2018. According to the new decision, since January 2019 Azerbaijan has committed itself to reduce daily production by about 20,000 barrels.