Azerbaijani Economy 11 january — 11:47

OPEC ministerial committee to hold talks in Vienna

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A meeting of the OPEC Ministerial Monitoring Committee supervising oil output will be held in the Austrian capital of Vienna on January 21-22, AzerTAC reports.

On December 10, OPEC and non-OPEC countries signed the agreement on joint reduction of oil output at a meeting in Vienna. Also, 11 countries will join the announced cut by OPEC members of 1.164 mln barrels per day in the first half of next year, and reduce production by another 558,000 barrels per day. Thus, the total crude oil production cut will amount to 1.7-1.8 mln barrels per day.

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