OPEC: Azerbaijan plays constructive role in regulating global oil market

Azerbaijan plays a constructive role in regulating the global oil market, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais said during his meeting with Azerbaijan's Energy Minister Parviz Shahbazov on the sidelines of COP29, Report informs.

Haitham Al-Ghais expressed his support for Azerbaijan's COP29 Presidency and spoke about his participation in events held within the COP framework.

The meeting discussed global trends in the energy market, prospects for the oil industry, the importance of reducing emissions and investing in new technologies to obtain clean energy. They reviewed renewable energy projects implemented by countries represented in the OPEC plus format and the contributions of these cooperation ties to green energy partnerships. In this regard, the participation of the UAE and Saudi Arabia in renewable energy projects in Azerbaijan and Central Asian countries was noted.

During the meeting, the importance of cooperation in ensuring energy market stability was emphasized, and the necessity of continuing such dialogues was expressed.