MOSCOW (Sputnik) — Azerbaijan does not plan to follow the example of several Organization of the Petroleum Exporting Countries (OPEC) members to freeze oil output in 2016, a spokeswoman for the republic's Energy Ministry told Sputnik on Tuesday.
Earlier in the day, Russia, Saudi Arabia, Venezuela and Qatar agreed to freeze oil production at January levels if other countries followed suit.
“Our minister just declared that we do not have plans to stop production,” Zamina Aliyeva said.
Since the collapse in oil prices in the first half of January, officials from OPEC member states and non-OPEC countries have been considering holding a meeting to address the declining oil prices, which have caused significant financial problems for some states.
