Energy Ministry: Steps taken in OPEC+ format aim to support the oil market

At the 10th OPEC+ Ministerial Meeting a historic agreement was reached for oil producers, consumers, and the global economy as a whole

Goldman Sachs: Decline in production not to prevent oil price from falling

The agreement on oil production cuts by the OPEC+ coalition contains very few restrictions in volume and was adopted too late to prevent a decline in the price of black gold in the coming weeks, reports Goldman Sachs, one of the leading investment banks in the U.S.

Oil prices rise after OPEC+ agreement on production cuts, Azerbaijan joins new deal

Oil prices have grown on Monday by 4-5%, after OPEC+ countries managed to come to an agreement on the reduction of global oil production by about 13%

Parviz Shahbazov: Every oil country must be united in order to stabilize the market

We`ll be able to cope with the existing global problem not separately, but in the context of global cooperation

Azerbaijan to lower daily oil production by 131,000 bpd as well

A decision has been taken to cut OPEC+ daily oil production by 8 million barrels for July-December 2020 that is by 18% more against October 2018

Azerbaijan cuts oil production - New agreement

A meeting of the ministers of the Organization of Petroleum Exporting Countries (OPEC) was held in the format of a videoconference

Oil prices fall because of prospect of failure of OPEC+ deal

Oil has fallen in price on Thursday amid doubts that the collective production cut by 10 million bpd announced by 23 OPEC+ countries will be enough to stabilize the market, if it does not break down at the last moment due to disagreements

Total, that has stopped working in some states, not to leave Azerbaijan

PROKON signed a contract within the turnaround project of LukOil Nizhegorodnefteorgsintez

PROKON Construction and Engineering has been awarded a contract for the turnaround project of LukOil Nizhegorodnefteorgsintez.

Azerbaijan produced 763,900 bpd of oil per day for March

The daily oil production in Azerbaijan amounted to 763,900 barrels on March 2020, including 683,700 barrels of crude oil and 80,200 barrels of condensate, ABC.AZ was informed at the Ministry of Energy.

Oil keeps on rising in price in anticipation of OPEC+ deal

Fatih Birol: Oil market experiences a shock first time in 100 years

The oil market is experiencing a shock for the first time in 100 years, stated Fatih Birol, the executive director of the International Energy Agency

Electricity production has increased

Azerbaijan increased electricity production by 3%

Araz Agalarov: Oil will never return to its former high price

The reduction of the cost of oil to $10 does not look convincing

Oil prices rise after falling

Oil prices are steadily rising in trading on Wednesday after their falling at the end of the previous trading

Azerbaijan opens six more gas stations in Europe – Permits received

SOCAR has increased the number of gas stations in Romania

Donald Trump: OPEC did not demand from U.S. to cut oil production

OPEC did not demand from the U.S. to reduce oil production

Oil prices rise in anticipation of OPEC+ meeting

Oil prices are rising on Tuesday in anticipation of the OPEC+ meeting, where oil-producing countries will have to make a decision on production cuts

Oil prices decline on Monday

Oil is cheapening in Monday’s trading after its rising on Friday

Oil price to remain at low level for a long time

Azerbaijan’s economy is likely to switch to a new balance with the beginning of a period of global shocks, pandemics and low oil prices

Oil prices fall after record growth the day before

Oil of standard grades are failing in cost in Friday`s trading after the highest daily growth in the history the day before