Azerbaijani president says hopes oil price to be 60-70 dollars next year

Azerbaijani president says hopes oil price to be 60-70 dollars next year
# 21 January 2016 17:01 (UTC +04:00)

According to the head of state, the oil price is periodic.

“I remember the oil price being 12 dollars when we had begun major oil projects back in 1994. We hoped the oil price would be 22 dollars when we prepared development projects. Now the price is getting closer to that number. I hope the market will stabilize as the oil sector is in need of investment. It’s obvious that the oil price is going to rise. I wouldn’t like to make a prediction but I do hope that the oil price will be 60-70 dollars next year. And I’m hopeful that the second half of this year is going to be the period of stabilization,” said the president.

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THE OPERATION IS BEING PERFORMED