Azerbaijani Energy Minister Natig Aliyev will attend the summit of energy ministers of OPEC and non-OPEC countries that will be held on October 29 in Vienna.

As is reported, Russia, Kazakhstan, Bahrain, Bolivia, Brazil, Brunei, Canada, Egypt, Colombia, Norway, Malaysia, Oman, Mexico, Trinidad and Tobago along with Azerbaijan have been invited to the summit. The agenda of the meeting consists of presentations and discussions on the development of the world oil market in short term, the discussions with representatives of OPEC member and non-cartel states on non-member countries to join the implementation of OPEC's decision.

Energy Minister Natig Aliyev said that Azerbaijan would support any decision aimed at the regulation, stabilization of world's oil market and increasing the oil price.

“I don’t think that non-cartel states will protest the final decision on limiting oil production. The elimination of contradictions among OPEC member countries, especially Iran, Libya, Nigeria, and Saudi Arabia, to reach a general agreement are the most important issues," Natig Aliyev stressed.

On September 28, OPEC member states agreed on cutting their oil production to 32.5-33 million barrels per day for the whole cartel, however, no exact limits for each country have been placed. The OPEC countries are set to finalize the agreement on oil output freeze at the OPEC summit in Vienna on November 30.

AZERTAC