Baku:Russian Deputy Prime Minister Alexander Novak announced that the assessment of maximum production capacities for countries participating in the OPEC+ agreement is expected to be completed by the end of 2026. This statement was made during comments to journalists at Russian Energy Week.

According to Azeri-Press news agency, Novak indicated that the OPEC Secretariat is actively working towards this goal. The assessment will help determine the baseline levels of oil production for 2027, following the mechanism approved by OPEC+ in 2025.

OPEC+ includes both OPEC and non-OPEC countries working together to manage oil production levels and stabilize the market. Azerbaijan is one of the participants in this agreement.