12:43 - 15.05.2020

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May 15, Fineko/abc.az. Azerbaijan highly appreciates the efforts of the participants of the Declaration of Cooperation to accelerate the restoration of stability and balance in the world oil market and provides them with the necessary support.

ABC.AZ reports that the relevant statement was made by Energy Minister Parviz Shahbazov.

He noted that the implementation of the historic agreement reached in April also requires high sensitivity and decisive steps from OPEC and non-OPEC countries: “The positive trends observed in the oil market this May are certainly influenced by the OPEC+ measures on production cuts. The commitment of the OPEC+ members, as well as the positions of Saudi Arabia, the UAE and Kuwait on the additional reduction of oil production, are crucial for regulating the oil market."