12:21 - 15.07.2026

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July 15, Fineko/abc.az. Azerbaijan intends to continue promoting the strengthening of cooperation in OPEC+ format, Azerbaijani Energy Minister Parviz Shahbazov said at the first meeting of OPEC+ Charter of Cooperation (CoC), which is taking place in Baku.

According to the minister, in today's world, country's influence in the energy sector is determined not only by its energy production volumes, but also by its reliable supply chain, diversified export infrastructure, and level of trust from its partners.

"Azerbaijan's strategic importance lies not only in its energy production volumes, but also in its ability to reliably connect regions and markets, contribute to its partners' energy security, and act as a reliable partner. This trust is strengthened by Azerbaijan's active participation in OPEC+ format. Azerbaijan's energy policy fully aligns with the main goals of the OPEC+ platform, which is not only a mechanism for adjusting oil production but also an important platform for cooperation that helps maintain the stability of the global oil market and ensures balanced interests for both producing and consuming countries," Shahbazov said.

The minister pointed out that the areas outlined in the CoC, including development of dialogue with major oil-consuming countries, promotion of technologies, innovations, and investments in the oil industry, strengthening of regulatory cooperation, improvement of oil market analytics, and development of industry standards, are of particular importance for further development of cooperation within OPEC+.