Brent crude oil today for the first time in five years has fallen below $ 68 per barrel. The quotes of Brent crude for delivery in January 2015 this morning fell to $ 67.56 per barrel.
During the opening of electronic trading on the night of December 1 the price fell by $ 2 in an hour. General fall in prices of oil futures has continued from November 27, after the meeting of oil ministers of the OPEC countries decided not to cut the oil production quotas.
According to experts, the low price of oil will continue, at least, in the first half of 2015.
Amid falling oil prices the price of the Russian currency has sharply dropped. The euro exchange rate during the auction on Moscow Stock Exchange rose above 65 rubles on December 1. The USD exchange rate rose above 52 rubles. -02D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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