Non-OPEC countries likely to back decision to cap oil production - Natig Aliyev

Non-OPEC countries are likely to support the organization's decision to cap oil production at a meeting in Vienna on October 29, Azerbaijani Energy Minister Natiq Aliyev said.


"I don't think that the countries not belonging to the cartel would object to the adoption of a final decision on capping oil production. What is more important here is rather the elimination of disagreements between the OPEC members, especially Iran, Libya, Nigeria, and Saudi Arabia," the Azerbaijani Energy Ministry quoted Aliyev as saying.


Azerbaijan supports and is willing to contribute to initiatives aimed at stabilizing oil prices on global markets and pushing them up, he said.


Azerbaijan will reiterate at the meetings in Vienna that it would not increase oil production and export, he said.


The minister will take part in a meeting of the OPEC High Level Committee on the implementation of the Algiers agreements in Vienna.


Aliyev had told Interfax earlier that Azerbaijan supported any decision aimed at prompting oil prices to go up.


Azerbaijani President Ilham Aliyev said Azerbaijan did not plan to increase oil production and was prepared for measures to stabilize oil prices.


OPEC has invited Russia and other oil producing countries to a meeting in Vienna on October 28-29 to draw up a roadmap and basic interaction mechanisms.



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