In 2014-2015 average oil price at the world market will not be below $100 per barrel, said analysts of the World Bank.
“We expect that the latest tendencies remain at the oil market and forecast average oil price at $103 per barrel in 2014 and $100 per barrel in 2015,” reads the report about Russian economy released by the World Bank on Wednesday.
According to the WB experts, in the long-term oil prices will go down, because volume of oil deliveries extracted in a non-traditional way and use of alternative types of fuel will grow.
World Bank expects that in 2014 world oil demand will increase by 1.1 million barrels a day and reach 92.7 million barrels a day in 2014 and 94 million barrels a day in 2015.—0--
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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