Azerbaijan Energy Minister discussed with his Saudi Arabia counterpart matter of production restriction

12:57 - 6.12.2018

December 6, Fineko/ Energy Minister Parviz Shahbazov of Azerbaijan and Minister of Energy, Industry & Natural Resources Khalid Abdulaziz Al Falih of Saudi Arabia conducted negotiations in Vienna.

The Ministry of Energy reports that during the meeting the factors causing changes in oil prices, short- and medium-term prospects, the state of supply and demand in the market were discussed.

"The ministers exchanged views on price stabilization and production restrictions to ensure a balance, noted the need to continue cooperation between OPEC and non-OPEC countries in 2019," the MoE said in a statement.

The ministers also covered the possibility of expanding energy cooperation between the two countries.