Media Review for April 14, 2020

The impact of restrictions in connection with the Corona Virus pandemic on the economic, social and financial life of the countries of the world, including Azerbaijan, is the topic of today's media.

The newspaper Azerbaijan discusses the situation with a decrease in oil production and the impact of this factor on prices. The OPEC + agreement to reduce oil production to 9.7 million barrels put an end to the "oil war" between Saudi Arabia and Russia. OPEC + has never allowed such a decline in production.

However, a decrease in production will not lead to a sharp increase in the cost of oil. Prices cannot rise as supply exceeds demand by 20 million barrels.

If in the near future it is possible to limit the pandemic, restore transport links between the countries and increase the need for fuel, this will affect the price increase.

The website Azpolitika.info discusses the need to extend the quarantine regime until early May. Despite the positive dynamics of those who have been cured of the Corona Virus, the number of infected people is also growing. Therefore, quitting the quarantine regime will fail.

The website Modern.az discusses the decision of OPEC + to reduce oil production, noting that after that, Azerbaijani oil went up by only $ 1.

Some sources indicate that the world daily oil demand fell to 30 million barrels. In order for the price to once again reach the level of $ 55-60 comfortable for all producers, it is necessary to reduce production by another 30 million barrels.

The website Mətbuat.az discusses the issue of children's allowance, the restoration of which the government has never agreed to. This money would be very helpful at the present time. This should be a priority issue.

The population’s discontent is also caused by the refusal to issue benefits of 190 manat to those who have at least one person working in the family.   -0-

 

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