BAKU, Azerbaijan, July 15. The first meeting under the OPEC+ Charter of Cooperation is underway in Baku, Trend's correspondent reports from the event.
OPEC+ (the Organization of the Petroleum Exporting Countries and non-OPEC countries participating in the Declaration of Cooperation, or DoC) operates under the Declaration of Cooperation signed on Dec. 10, 2016. The agreement brought together 13 OPEC member countries and 11 non-OPEC producers, including Azerbaijan.
The agreement took effect on Jan. 1, 2017, and provides for voluntary oil production adjustments aimed at stabilizing the global oil market. To monitor compliance with the agreement, the Joint Ministerial Monitoring Committee (JMMC) was established. The committee continues to assess conditions in the global oil market and monitor participating countries' compliance with their commitments.
Will be updated
