Parviz Shahbazov, Azerbaijan’s Energy Minister, met with Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), on the sidelines of the Baku Energy Week.
During the meeting, both sides expressed satisfaction with Azerbaijan’s cooperation under the OPEC+ format. They highly valued the country’s role in stabilizing the oil market. Amid growing global energy demand, the two also emphasized the importance of continued investment in hydrocarbons, including oil.
Key Topics Discussed
Azerbaijan has been a consistent participant in OPEC+ agreements, helping to moderate oil production in alignment with global supply-demand dynamics. The cooperation has helped stabilize prices and provided a platform for dialogue between oil-producing nations.
OPEC also invited Azerbaijan to participate in the OPEC International Seminar, scheduled for July 2025, where global energy leaders will meet to discuss market strategies, investment policies, and the evolving role of fossil fuels.
The meeting underscores Azerbaijan’s dual-track energy policy: maintaining its position as a reliable oil producer while simultaneously scaling up renewable energy projects, which are expected to attract up to $2 billion in investment in the coming years.
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The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
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Syria says it assured Israel that Türkiye had no plans to establish a military presence at the Abu al-Duhur airbase before Israeli forces struck the site on Tuesday.
Israeli Prime Minister Benjamin Netanyahu has issued his strongest warning yet over Türkiye's growing military role in Syria, saying Israel will not accept Turkish forces expanding their presence further south.
Azerbaijan’s support for Ukraine could provide a model for neighbouring countries seeking to strengthen their sovereignty, the director of development at an organisation supporting Ukraine’s armed forces has told AnewZ.
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