Parviz Shahbazov: Recent decision of OPEC+ aimed at preventing imbalance in market

The latest OPEC+ decision aims to prevent imbalance in the market, and as production falls short of quotas, the actual cut will be around 1 million barrels, Azerbaijan's Minister of Energy Parviz Shahbazov said at the Russian Energy Week in Moscow.

According to Report, the minister said that OPEC + cannot completely eliminate the influence of all numerous factors, including geopolitical ones, in the oil market. However, adequate decisions on oil demand development forecasts provide constant support for the balance of supply and demand.