The price of Brent crude oil on Monday fell below $ 50 a barrel. Such values of the oil are observed for the first time since January.
The cost of the September Brent crude oil futures on the London ICE Futures Exchange fell to $ 49.95. That is, in one day the price of oil fell by more than $ 2.5.
In parallel the price of WTI crude oil decreases on the New York Mercantile Exchange. Losing almost $ 2 a day, oil futures for September delivery were traded at $ 45.39 a barrel.
The fall in prices is due to oversupply in the world market, as well as information about the slowdown in China's economy.
The fall in prices is a blow on the Russian currency, which depreciates against the dollar and the euro.
The Azerbaijani manat is also weakening, but not so much. The price of oil Azeri-Light is around $ 51. -02D-
Economics
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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