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Vusal Gasimli: "Azerbaijani oil immunized against the price limit below $ 30 p/b"

03 March 2020 11:52 (UTC +04:00)

“Oil price in Azerbaijan has immunized against the limit even lower than $ 30 per barrel,” Vusal Gasimli, Executive Director of the Center for Analysis of and Communication of Economic Reforms told APA-Economics while commenting on the macroeconomic effects of the decrease of oil prices in Azerbaijan.

“The change of price of oil for per barrel by $ 1 influence about $ 250 mln. to our current operations account annually. An immunity has appeared in Azerbaijan against the limit of oil even lower than $ 30 per barrel. And also the oil prices decreased by more than 3 times in 2015,” V. Gasimli noted.