Azerbaijan Reconsiders OPEC+ Meeting amid Coronavirus Outbreak

The head of the Ministry of Energy of Azerbaijan, Perviz Shahbazov, believes that there will be no early ministerial meeting in the OPEC+ format due to the coronavirus, TASS reported.

“In all likelihood, an early ministerial meeting will not be held within the framework of OPEC+,” he told reporters on Sunday.

He noted that consultations between countries in the OPEC+ format regarding the coronavirus are ongoing.

“There were proposals to postpone the meeting scheduled for March to the middle or end of February. However, the situation was analyzed, and the meeting will be held, as planned, in March,” the minister said.

The head of the Ministry of Energy noted that coronavirus did affect oil prices, which fell by more than 10%, but now the situation is stabilizing.

“The situation in terms of some recovery in oil prices is changing. Therefore, we expect to meet and discuss the issue in early March,” he said.

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