17:17 GMT26 February 2020
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    Azerbaijani authorities hope that OPEC members will reach an oil output agreement in order to stabilize the international market.

    BAKU (Sputnik) — Azerbaijani authorities hope that Organization of the Petroleum Exporting Countries (OPEC) members will reach in Vienna an oil output agreement that would stabilize the international market, despite existing differences, the head of Azerbaijan’s Ministry of Energy press service said on Wednesday.

    "We hope that the meeting in Vienna will not end without result. But it is necessary to pay attention to the fact that the differences between the cartel members still exist, which highlights the difficulty of taking an unanimous decision. The conditions that will lead to the final decision are also unclear," Zamina Aliyeva told RIA Novosti.

    Aliyeva expressed hope that OPEC members would "mobilize efforts to reach a final decision on oil price and production," as such a decision was really needed for the industry.

    As regards to the position of Azerbaijan, Aliyeva pointed out that Baku was ready to unilaterally support oil output freeze not waiting for the decision of other producers.

    On September 28, the OPEC member states reached a preliminary agreement to set the oil production ceiling at 32.5-33 million barrels a day for the whole cartel. The OPEC countries are expected to discuss details of the agreement in Vienna on Wednesday.

    A number of non-OPEC members, including Russia, have expressed willingness to join the deal.

    Related:

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    Saudi Arabia Optimistic About OPEC Oil Deal - Minister
    OPEC Members With Increased Oil Output Should Bear Burden of Cuts
    Russian Energy Minister Not Going to Participate in OPEC Meeting in Vienna
    Tags:
    meeting, petroleum, OPEC, Vienna, Azerbaijan
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