Gasimov noted that oil price makes around $46 a barrel today: “Such issues are affected by both political and economic factors. Failure in Doha meeting influenced the oil price negatively. However, oil price did not fall as expected, bur rose. This shows that the oil price is not regulated by the economic factors”.
The vice-president noted that SOCAR has planned oil price at $50 at cost-benefit analysis: “If oil price is around $50-60 a barrel, this is profitable for us”.