Azerbaijan ready to extend oil output cut deal

Azerbaijan ready to extend oil output cut deal

Azerbaijani Energy Minister Natig Aliyev will attend the OPEC's meeting on May 24-25 in Vienna, the spokesperson for the Azerbaijani energy ministry, Zamina Aliyeva, said.

Azerbaijan is ready to negotiate the extension of an agreement to cut oil output made by the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries in 2016, she added.

"The Azerbaijani delegation will discuss this issue in Vienna on May 25. Our position remains unchanged, and we consider it necessary to continue the steps that will help stabilize the global oil market," Xinhua cited Aliyeva as saying.

11 non-OPEC oil-producing countries agreed to cut oil output by 558,000 barrels per day in the first half of 2017 with the possibility of extension. Azerbaijan has fulfilled its obligation to cut daily oil output by 35,000 barrels.

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