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Wednesday, 30 May 2018 11:45

Minister of Energy: Azerbaijan is a trusted partner of international projects Featured

Minister of Energy: Azerbaijan is a trusted partner of international projects

Within the framework of OPEC+ cooperation, Azerbaijan has become a significant player in the oil market stabilization process. It was said by the Minister of Energy of Azerbaijan Parviz Shakhbazov at the 25th international Caspian Oil & Gas conference hosted in Baku.

According to him, despite the oil price reached up to $80 per barrel, the situation in the oil market has not stabilized fully. He added that such factors as a geopolitical and economic situation in a number of oil producing countries, growth of the economies of the USA, EU and China had a certain influence over the price growth.

“Azerbaijan is fulfilling its obligations and has already made its contribution to the stabilization of oil prices in the market and has become a significant player of the agreement regulating the balance of demand and supply. Azerbaijan is a trusted partner of international projects”, the Minister continued.  

Parviz Shakhbazov stressed that the cooperation of the OPEC member and non member countries let reduce the volatility in the market and stabilize a balance of demand and supply.  

 

 

 

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