The price of Brent crude oil on the London Stock Exchange reached a five-year low, dropping below $ 50 a barrel.
According to Reuters, on Wednesday morning, Brent crude was worth $ 49.98 - the lowest price since 2009.
Crude oil futures in New York fell to $ 47.2 per barrel - also the lowest level since April 2009.
The price of Azerbaijani oil Azeri Light also falls - on the latest auction it was sold at $ 53. -02D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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