Today, looking at the short term situation, one can see a very volatile and challenging period in oil markets, Executive Director of the International Energy Agency (IEA ) Dr Fatih Birol said in an interview with Trend.

Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d.

Compliance with the Vienna Agreement, envisaging oil output cuts has eased to 97 percent in July as output cuts were relaxed.

Fatih Birol, executive director of the International Energy Agency (IEA), is expected to visit Azerbaijan on September 12.

The International Energy Agency (IEA) predicts that over the next 20 years, the annual natural gas production in Azerbaijan will grow to 55 billion cubic meters of gas.

The International Energy Agency (IEA) doesn’t rule out further growth in oil prices until the end of the year.

Implementation of the Southern Gas Corridor (SGC) project is important for Azerbaijan, Turkey and Europe, International Energy Agency (IEA) Executive Director Fatih Birol told reporters in Baku Sept. 12.