According to Reuters St. Petersburg, Azerbaijani Energy Minister Parviz Shakhbazov said he supported the extension of the current global oil production reduction agreement, which expires at the end of June.
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Earlier, OPEC and other major oil producers agreed to reduce their total oil production by 1.2 million barrels a day between January 1 and the end of June 2019 to balance the oil market.
They will meet in Vienna from 1 to 2 July to formulate joint policies for the second half of the year.
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Shakhbazov told reporters in a commentary on Monday: “I think this form, these decisions and the agreement reached at the end of last year to cut production in the first half of this year should continue.”
He added that he did not know whether other countries opposed the continuation of the agreement, which would expire at the end of this month, and that Azerbaijani was one of the non-OPEC producers that had joined the agreement.
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