Azerbaijan Likely to Support Deeper OPEC+ Oil Output Cuts

via AAWSAT AR
via AAWSAT AR
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Azerbaijan Likely to Support Deeper OPEC+ Oil Output Cuts

via AAWSAT AR
via AAWSAT AR

Azerbaijan is likely to support further oil output cuts by OPEC and its allies, the country’s energy minister said.

A move described as necessary to balance demand fears after a coronavirus outbreak in China.

Azerbaijan is not an OPEC member but is part of the OPEC+ group informally established in 2016.

A technical panel that advises OPEC+ proposed this week a provisional cut of around 600,000 barrels per day (bpd).

“Azerbaijan is likely to support this,” Parviz Shahbazov told Reuters in an interview.

Azerbaijan is not a big contributor to the overall cuts by OPEC+, but its position may shed light on Russia’s thinking as non-OPEC members of the group usually take a unanimous decision.

Meanwhile, Moscow is yet to give its nod to the further cuts.

Producers in the OPEC+ group are scheduled to meet in Vienna on March 5-6, although the meeting could be brought forward depending on how the coronavirus outbreak affects oil prices going forward.



Saudi Arabia: Mawani Reports Container Throughput Rises at Ports in June

Jeddah Islamic Seaport. Photo: Mawani
Jeddah Islamic Seaport. Photo: Mawani
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Saudi Arabia: Mawani Reports Container Throughput Rises at Ports in June

Jeddah Islamic Seaport. Photo: Mawani
Jeddah Islamic Seaport. Photo: Mawani

The ports supervised by the Saudi Ports Authority (Mawani) recorded an 18.66% increase in handled containers in June, reaching 696,839 twenty-foot equivalent units (TEUs), compared to 587,261 TEUs during the same month in 2024.

Transshipment containers also recorded an increase of 35.94%, reaching 164,999 containers, compared to 121,377 containers during the same month last year.

Export containers posted a strong increase of 17.79%, reaching 268,587 TEUs, compared to 228,031 TEUs during the same month of the previous year. Import containers grew by 10.68%, totaling 263,253 TEUs, compared to 237,853 TEUs during June 2024.

Total cargo throughput — general cargo, solid bulk, and liquid bulk — rose by 1.74%, reaching 21,464,070 tons, compared to 21,096,774 tons during the same month last year. General cargo reached 922,351 tons, solid bulk cargo 4,229,665 tons, and liquid bulk cargo 16,312,054 tons. The ports also received 959,188 head of livestock, marking a 47.35% decrease compared to 1,821,863 head during the same month last year.

Maritime traffic rose by 7.56%, with 1,039 vessels handled, compared to 966 vessels during the same month last year. Passenger traffic increased by 42.34%, reaching 78,698 travelers, compared to 55,289 during the same month of 2024. However, vehicle handling declined by 25.42%, totaling 75,437 vehicles, compared to 101,146 vehicles during the same month of the previous year.

Finally, in May 2025, Mawani reported a 13% increase in handled container volumes, reaching 720,684 TEUs, compared to 639,736 TEUs in June 2024.