Azerbaijan remained faithful to the Vienna Agreement in October
2017 November 08 ( Wednesday ) 18:28:52
Baku/08.11.17/Turan: In October, Azerbaijan fully complied with the agreement of the oil-producing countries to reduce the daily oil production, the Ministry of Energy said. The information also says that in October 2017, the daily oil production in Azerbaijan amounted to 800.6 thousand barrels. Of these, 746.8 thousand barrels of crude oil, 53.8 thousand barrels of condensate.
Every day 628 thousand barrels of crude oil, 53.8 thousand barrels of condensate, 24.3 thousand barrels of oil products were exported.
The Ministry notes that in this way Azerbaijan has complied with the terms of the agreement of the countries that are not members of the OPEC and the cartel on the issue of reducing oil production. That is, Azerbaijan completely fulfilled its obligations to reduce oil production by 35,000 barrels per day.
On December 10 last year, an agreement was concluded in Vienna to reduce oil production in non-members of OPEC and not in the cartel. The agreement was concluded for 6 months. On May 25, the term of the agreement was extended to 9 months. After these measures, the price of oil slightly increased. Currently, 1 barrel of oil is sold at a price of 58 dollars.