Azerbaijan’s energy minister not to attend OPEC meeting

26 November 2016 15:42 (UTC+04:00)

By  Trend

Azerbaijan’s Energy Minister Natig Aliyev has cancelled his visit to Vienna, where he planned to take part in the second meeting of the OPEC High-level Committee, established by the Algiers Accord, with non-OPEC oil producing countries, the ministry told Trend November 26.

“The minister has revised his plans for visiting Vienna in connection with the cancellation of this meeting,” the ministry said.

It was earlier reported that the meeting of the OPEC High-level Committee, established by the Algiers Accord, with non-OPEC oil producing countries, which was scheduled for Nov. 28, will not take place because of Saudi Arabia’s refusal to participate in it.

Six non-OPEC oil producers are Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia.

Earlier, Financial Times reported that Saudi Arabia will not attend a meeting with non-OPEC producers Nov. 28, arguing it is pointless to gather when the 14-member oil cartel has not yet reached a deal itself.

OPEC members reached a preliminary deal in Algeria in September to cap oil production at 32.5-33 million barrels per day. The deal is expected to be finalized in Vienna on November 30.

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