The price of oil in the world markets continues to fall. At the last auction the price of Brent crude fell to $ 46.92 a barrel. The price of US WTI crude oil fell to $ 41, so more and more analysts talk about the imminent fall in prices to $ 30 per barrel.
Cheap oil may be beneficial for consumers and businesses around the world, but at the same time it will be a challenge for all producers.
Given the status quo, there is a probability of 90% that prices will drop close to $ 30, according to analysts from Citigroup Inc.
Meanwhile, most analysts are inclined to believe that in the near future oil prices will reach the bottom and by the end of next year they will be once again restored to $ 70 per barrel. -02D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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