Bank Of Baku

Oil price fall doesn’t have serious impact on Azerbaijan

Oil price fall doesn’t have serious impact on Azerbaijan
# 20 September 2008 08:58 (UTC +04:00)
Baku. Rashad Suleymanov-APA-Economics. The decline in oil prices on the world market doesn’t have very negative impact on Azerbaijan, said Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR).
“We would like oil prices to be at an optimal level which is between $80- and $100 per barrel,” he added.
According to him, prices of other products and services also go up when oil prices rise and cause an increase in spending.
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