The decision adopted by the OPEC+ ring in October last year (a reduction of 2 million barrels per day) was made.

"APA-Economics" reports that Azerbaijani Energy Minister Parviz Shahbazov, who answered a question to journalists about the possibility of a further reduction in oil production at the next meeting of OPEC+.

Following the approval, he said, a number of OPEC+ countries decided to reduce oil production additionally.

"We will have the opportunity to see the results of what was celebrated at the OPEC+ meeting in early June." It is difficult to say what decision will be made at the moment," the minister said.

Parviz Shahbazov added that the decision would be made on the basis of discussions and an analysis of the situation.

Significantly, the next meeting of OPEC+ members will be held on June 4, 2023.