Suhail Al Mazrouei: Azerbaijan's meeting will measure impact of oil market production reductions

Baku. 14 January. REPORT.AZ/ The ministerial committee for production control will examine- at its meeting expected in February in Azerbaijan - the commitment to the agreed reduction rate between the OPEC member countries and the independent countries abroad, led by Russia, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, Report informs citing WAM.

He also pointed out that during this meeting, they will measure the impact of the reduction of production on the oil markets to ensure a balance between supply and demand.

In December, OPEC and non-OPEC members agreed to work to jointly reduce crude oil production by 1.2 million barrels per day for the next six months to try to influence higher oil prices.