Azerbaijani Economy 7 february — 11:33

Minister Shahbazov spoke about oil price acceptable for Azerbaijan

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'If the cost of oil is $60-70, it will have a positive effect on the economy of Azerbaijan, on our plans,' said Azerbaijani Energy Minister Parviz Shahbazov in an interview with Bloomberg.

According to the minister, this is a good price for both producers and consumers.

Minister Parviz Shahbazov also noted that, perhaps, the OPEC countries and their allies will extend the agreement on reducing oil production at the end of this year.

'There is a possibility of extending the agreement,' said P. Shahbazov.

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