BAKU (Sputnik) — The Organization of the Petroleum Exporting Countries (OPEC) announced last week that they were looking for non-OPEC countries to reduce output by 600,000 barrels per day starting in January 2017.
Russian Energy Minister Alexander Novak said that Moscow is ready to gradually reduce its oil output by up to 300,000 barrels per day starting in January 2017 in light of a new OPEC agreement on oil production ceiling.
"Azerbaijan is planning to determine the production volume considering the reduction percentage which is similar to that of Russia and other non-OPEC producers," ministry's spokeswoman Zamina Aliyeva said.
