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Doha deal to be "gentlemen-like" — Azerbaijan's energy minister

April 16, 23:49 UTC+3
On April 17, the oil producing countries will be discussing the ‘oil freeze’ at this January level at a meeting in Doha
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DOHA, April 16. /TASS/. An agreement in Doha to freeze oil output will be "gentlemen-like" as the draft stipulates no control mechanisms, Azerbaijan's Energy Minister Natiq Aliyev told TASS on Saturday.

"The agreement is gentlemen-like as the countries realize that the maintained norms of output will suit the joint interests. It does not envisage any control mechanisms and each country should observe its implementation," Aliyev said, adding that he had not received any proposals to create a special supervisory body for monitoring the fulfilment of obligations.

"There is no need in a supervisory body," he said. "No proposals have come since it will have no influence on the countries."

On April 17, the oil producing countries will be discussing the ‘oil freeze’ at this January level at a meeting in Doha. Earlier, a majority of oil producer counties confirmed their participation.

Oil prices, which plunged below $30 per barrel at the beginning of the year, had pushed for the talks as the declining prices imperiled the budgets of some of these countries. The oil price has been climbing in recent days in the wake of expectations that the states would be capable of sealing the deal to freeze the oil production.

The Brent oil has been trading at a 65% higher price since the beginning of the year.

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