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Azerbaijan agrees to freeze oil production at the certain level  in case of adoption of such decision by oil-producing countries following the results of an informal meeting in Algeria on September 27-28, Azerbaijani media reported quoting SOCAR President Rovnag Abdullayev.

At the same time he noted that the price of oil in the world markets is determined not only by OPEC, but also American oil companies involved in shale oil and the U.S. banks.

The previous attempt of oil-producing countries, including the states of OPEC and Russia, to agree on restriction of production has failed. During the negotiations in Doha in mid-April, Saudi Arabia insisted on Iran's freezing production along with other members of OPEC, however Tehran refused to do it as has only begun to restore volumes of export of oil after cancellation of the international sanctions.

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