“I believe that this reduction was due to the fact that the goal of combining OPEC + is to keep the cost of a barrel of oil in a certain fork. Consequently, they, like a living organism, come from the world's oil reserves. If the OPEC + countries understand that stocks are increasing, they agree on a larger output. The same thing happens if stocks decrease, ”the deputy said.
According to Anansky, this decision once again confirms the thoroughness and meaningfulness of this association.
Earlier, OPEC + countries agreed on an additional reduction in oil production from January 1, 2020.
Minister of Energy of Azerbaijan Parviz Shahbazov noted that the new reduction will be valid until the end of the 1st quarter of 2020.