Azerbaijan, OPEC applaud strategic partnership during Baku Energy Week

Azerbaijani Energy Minister Parviz Shahbazov and OPEC Secretary-General Haitham Al Ghais have expressed strong satisfaction with their collaborative efforts within the OPEC+ framework during a high-level meeting held as part of the ongoing “Baku Energy Week”.

Both sides acknowledged Azerbaijan’s important role in assisting to stabilise the global oil market, Caliber.Az reports via local media.

Discussions at the meeting underscored the critical need for sustained investments in hydrocarbon resources, including the oil sector, especially given the steadily increasing global demand for energy.

The talks also addressed current trends shaping the world oil market, evaluated the compliance of both OPEC and non-OPEC member countries with their oil production commitments, and reaffirmed the enduring significance of oil in the global energy mix. 

The invitation for Azerbaijan to take part in an international seminar hosted by the Organisation of the Petroleum Exporting Countries (OPEC) scheduled for July was announced during the meeting.

By Naila Huseynova