Baku hopes for the performance of the OPEC meeting in Vienna

Баку надеется на результативность встречи ОПЕК в Вене

Baku hopes for the performance of the meeting of representatives of OPEC in Vienna, but points to differences among the participants of the cartel for the adoption of a unanimous decision about production and price of oil, told RIA Novosti on Wednesday the head a press-services of Ministry of energy of Azerbaijan, Zamina Aliyeva.

In Vienna on 30 November will be the official OPEC meeting, where the organization can finally resolve the issue of restrictions on its level of oil production. In late September, the cartel’s informal meeting in Algeria agreed on a restriction of output in the range of 32.5-33 million barrels of oil per day, but on specific limits for each of the countries of the organization while there is no agreement.

“We hope that the meeting in Vienna will not end in vain. But you should pay attention to the fact that the differences between the cartel members still present, which indicates the difficulty of making a unanimous decision. Unclear and the conditions that will lead to the final decision,” — said Aliyev.

According to her, was the need to reach agreement before today’s meeting in Vienna to determine the volume of oil production, the volume changes and the control mechanism.

“The meeting, which was to be held on 28 November had been postponed. But we still hope that OPEC will mobilize efforts to reach a final decision on price and production of oil,” said Zamina Aliyeva.

With regard to the position of Azerbaijan, according to Aliyeva, she is clear. “Earlier, the President of Azerbaijan Ilham Aliyev stated that Baku is ready to unilaterally refuse to increase production of oil, without waiting for the decisions of other producers,” she concluded.