Azerbaijan Says Has No Intention to Freeze Oil Output
TEHRAN (Tasnim) – Azeri Deputy Oil Minister Natiq Abbasov said the country does not plan to cap its oil production.
Azerbaijan has no intention to freeze its oil output, Abbasov told Reuters on Tuesday.
His remarks came after Russian Energy Minister Alexander Novak said in a statement following a meeting in Doha between Russia, Venezuela, Saudi Arabia and Qatar earlier on Tuesday that the four countries are ready to freeze oil production at January levels if other producer countries do the same.
Oil prices have tumbled about 70 percent since June 2014, hit by oversupply, sluggish demand and concerns over the global economic outlook.