Ilham Aliyev: Non-OPEC countries need mechanism to control execution of decisions

The countries that are not members of OPEC must cooperate sincerely and openly, they should make joint correct decisions and it is necessary to develop a strong controlling mechanism in connection with execution of these decisions, said Azerbaijan’s President Ilham Aliyev.

He was making a statement for the media together with President of Venezuela Nicolas Maduro in Baku, Azerbaijan, Oct. 22.

“As I have recently officially announced, Azerbaijan unilaterally declares that it will not increase its oil output and export, so that the world oil market gets stabilized and the oil prices increase,” Ilham Aliyev said. “This is a very responsible stance. I once again would like to say that we declare this unilaterally.”

“We believe other oil countries too will support this approach, and they also, in turn, will take similar steps,” he added. “Only in this case we will be able to stabilize the oil market.”