Bank Of Baku

SOFAZ Executive Director: Oil price will stay under $50 in medium term

SOFAZ Executive Director: Oil price will stay under $50 in medium term
# 26 May 2016 09:16 (UTC +04:00)

Baku. Yegane Lahcinzade - APA-Economics. Oil price will stay under $50 in the medium term, Executive Director of SOFAZ Shahmar Movsumov said in his interview to The Business Year magazine.

 

Movsumov said it is difficult to precisely forecast the price level: “However, recent trends, including the return of Iranian oil to the market, make us to believe that the price will stay under $50 per barrel in the medium term”.

 

 

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