Azerbaijan wants stable oil price before any further output cut - The Peninsula Qatar

Azerbaijan wants stable oil price before any further output cut - The Peninsula Qatar:

Azerbaijan, the third-biggest former Soviet oil producer, wants to see stability in oil prices before deciding whether to support any extension of global cuts in crude output, the country's energy minister said.

The Organization of the Petroleum Exporting Countries and several other exporters, including Azerbaijan, are cutting oil production jointly by 1.2 million barrels per day (bpd) in an effort to stabilise oil markets and boost the price of crude.

The current arrangement runs until the end of June and is the subject of further discussion on whether it should be extended into the second half of 2019. For non-OPEC producers, Russia is leading the deal and making the biggest cuts.