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Azerbaijan set to seal deal with other oil producing countries — energy minister

April 16, 2016, 23:50 UTC+3
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DOHA, April 16. /TASS/. Azerbaijan is set to sign an agreement to freeze oil output along with other participants in the meeting, Energy Minister Natiq Aliyev told TASS on Saturday.

"We are ready to sign the agreement in a form of the draft we have seen," Aliyev said. "We have a complete understanding with Russia, as well as mutual goals and interests."

"We believe that all the delegates who arrived in Doha are set to sign it, or why then they came here, otherwise," he said.

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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