Azerbaijan, OPEC Discuss Trends in Global Oil Market

Azerbaijan’s Energy Minister Parviz Shahbazov met with Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais.

The meeting took place on the sidelines of the Baku Energy Week, The Caspian Post reports, citing Azerbaijan's Energy Ministry.

During the meeting, both sides expressed satisfaction with Azerbaijan’s cooperation under the OPEC+ format. They highly valued the country’s role in stabilizing the oil market. Amid growing global energy demand, the two also emphasized the importance of continued investment in hydrocarbons, including oil.

The OPEC Secretary General commended Azerbaijani President Ilham Aliyev’s pragmatic strategy regarding the development of energy sources.

The meeting also covered trends in the global oil market, the implementation of production commitments by OPEC and non-OPEC countries, and the future role of oil in the global energy balance.

OPEC invited Azerbaijan to attend the OPEC International Seminar scheduled for July.