Investment-oriented price of oil announced

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Oil price will rise up to $60 by the end of the year, SOCAR President Rovnag Abdullayev said.

“Oil price is increasing. It has already seen the lowest level. Even $50 a barrel is not an investment-oriented. Big oil companies suspended investments, a number of projects during pas two years”, Abdullayev said.

SOCAR President added that the investment-oriented price of oil is $60-70 a barrel: “I think oil price will rise up to $60 by the year-end. However, this is not sufficient to make a big capital investments”.

2016.06.23 / 18:17
See also

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Oil price in the world market falls again

The next interest rate decision from the FES

The price of Baku oil has fallen

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