12:46 - 6.03.2026

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March 6, Fineko/abc.az. Growth of the oil price for every $10 per barrel increases Azerbaijan's annual export revenues by approx. $3 billion, which means additional revenues for country's economy of nearly 4% of GDP, ABC.AZ informs, referring to ING Group, the largest financial group in the Netherlands.

Amid rising tensions in the Middle East and increasing risks in the energy markets, rise in oil prices has different impact on the economic performance of the countries in the region. This process has mostly positive consequences for energy exporting countries.

According to analysts, growth in oil prices for every $10 per barrel increases Kazakhstan's annual export revenues by around $6 billion. This means additional revenues of around 1.8% of country's GDP.

It is emphasized that growth in energy prices strengthens the trade balance of energy exporting countries, however, for energy importing countries it increases inflationary risks and creates pressure on the current account balance.

ING Group analysts also note that continuation of the conflict in the Middle East may lead to persistence of high energy prices and emergence of new macroeconomic risks in the region's economies.