'It would be appropriate to extend OPEC' - President of Azerbaijan | Eurasia Diary - ednews.net

28 February, Friday


'It would be appropriate to extend OPEC' - President of Azerbaijan

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It would be appropriate to extend OPEC, President of the Republic of Azerbaijan Ilham Aliyev said in an interview with Rossiya-24 TV channel of Russia on the sidelines of the World Economic Forum in Davos.

"Because in the event of non-extension, we do not know how the market will react and different speculative trends may appear again

While asking a question about the dynamics of oil price, Ilham Aliyev said that the current price is quite beneficial for both suppliers and consumers.

"As for Azerbaijan, a price of $55 per barrel has been included in our budget for this year. But the price is much higher now. Therefore, I think that the price will remain within this range of $55 to 65 if there are no force majeure circumstances," President of Azerbaijan stated.

Read also: Kyrgyzstan started to export fuel oil to Georgia via Uzbekistan, Turkmenistan and Azerbaijan

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