State Oil Fund of Azerbaijan supports governmental prognosis of oil prices
Baku, Fineko/abc.az. The State Oil Fund of the Republic of Azerbaijan (SOFAZ) supports conservative approach to forecasting of export oil price upon drawing up budget of the country for 2010.
SOFAZ Executive Director Shahmar Movsumov said that indicating in the budget of oil price on the level of $45 per barrel is correct step.
“Conservative approach is necessary here. Now price is being formed about $70 per barrel, therefore, we consider that $45 is correct figure,” S. Movsumov said.
The government also considered price variants at $55 and $65 per barrel.
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