In the evening on 27 August at the international trading the price for Brent crude oil cost more than $47, thus, the price of oil rose for the day by $3, or 9%. The reason for this is a decline of the US reserves, and the strengthening the stock market of America. The oil price increased in the USA as well, where the price for oil Light Sweet rose by 10% to $42.
Experts point out that this is the most significant one-day rise in oil prices since 2009, but cannot say whether this will be a long-term growth.
Overall assessments of experts remain pessimistic, and in the long term they are talking about the price of 50 dollars per barrel.
Thus, the experts by Reuters believe that the general trend in the market will further decline in oil prices. -02D-
Economics
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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