The existing oil prices fall on world markets is a temporary phenomena, Samir Sharifov, Azerbaijan`s Finance Minister thinks, Trend reports.
According to him, the rise in oil prices and their recent approach to $80 per a barrel of oil were likely to be linked with speculative factors. Geo-political factors have played their roles to some degree as well.
These events have settled to a certain extent. However, according to international experts, the fall in oil price is not realistic. I am sure that the price will increase in the mid-term outlook, Mr. Sharifov thinks.
In this connection the oil price put to State Budget 2007 to calculate budget forecast at the level of $50 per a barrel is a quite acceptable. This year, after the budget forecast correction, this indicator has been brought up from $40 to $50 compared to last year`s $25.
On October 6, 2006, the price on AZERI LT CIF Augusta was $58.50 per barrel, $0.90 per barrel less than the price fixed the day before, on October 5. On 6 October the price of AZERI LT CIF Augusta fell at $3.05 per barrel.