Parviz Shahbazov: Every oil country must be united in order to stabilize the market


April 10, Fineko/abc.az. We’ll be able to cope with the existing global problem not separately, but in the context of global cooperation.

ABC.AZ reports that the above-said statement was made by Azerbaijani Energy Minister Parviz Shahbazov at a meeting of the OPEC ministers in the format of a videoconference.

According to the minister, in the short period from March to the present we have once again seen that stability in the oil market is impossible without the process of shared responsibility and regulation at the global level: "The current situation and the global economy, as well as uncertainty in connection with the recovery of global demand for oil, determine the support of the oil market in the future. And the involvement of non-OPEC+ countries is very important for this process."

The minister also added that each oil country should demonstrate solidarity in order to stabilize the oil market.

"Azerbaijan, which has played an active role in the regulation process within the framework of the OPEC+ format, has assumed new obligations and provided support to the global oil market," Shakhbazov added.