AZƏRBAYCANDA KORONAVIRUSLA BAĞLI XƏBƏRLƏR

Oil production in Azerbaijan to be continued in accordance with plan for 2020

Oil production in Azerbaijan to be continued in accordance with plan for 2020

Economy
31 March 2020, 17:10 617
A daily production of oil in Azerbaijan amounted to about 754,000 barrels from January through March 2020, Trend reports referring to the Ministry of Energy.
According to the ministry, from April 1, Azerbaijan is also free from obligations to limit oil production.
"The deadline for the implementation of the declaration on cooperation related to the limitation of the daily volume of oil production to 1.7 million barrels for OPEC+ countries signed on December 6, 2019, ends on March 31. Azerbaijan will carry out oil production in accordance with the plan for 2020 and the current situation," said in the message.
"Azerbaijan supports the stabilization of the global oil market and for this purpose, the country took an active part in the consultations held in March to reach an agreement between the OPEC+ countries. Azerbaijan will continue to cooperate in the OPEC+ format within the framework of the charter of oil-producing countries,” the ministry said.