Oil Market
The Oil Minister of Qatar, Abdullah al-Attiyah, said that OPEC will take a resolution on addiction cut in oil production in a next meeting in Nigeria and the price at $60 per barrel is temperate. The idea was sounded on 18 November while visiting Japan.
The organization has not anther choice as the market is supersaturated and Doha cut did not result in stabilization of the market.
The President of OPEC, Edmund Daukoru, representatives of Saudi Arabia and other countries of the Persian Gulf, entering the organization, told the meeting that the meeting held on 14 December, can adopt a resolution on cut in prediction of black oil' by 1.2mln barrels. He supposes that there is a need for additional cut in oil production from 500,000 to 1mln barrels a day. OPEC should be careful taking such resolution intended to regulate the storage and oil deliveries.
Currency Market
As per last weeks results, the official rate of manat in regards to the US dollar, set by the National Bank of Azerbaijan, grew by 0,0001 points or 0.01%. The average rate was established at 0.87263 manats per 1 US dollar, Trend reports
Last week, the maximum rate of the US dollar in respect to the manat was established on 14 November (0.8727 manats per 1 US dollar), minimum November 15 and 16 (0.8726) manats per US dollar).
As per the last week results, exchange rates of the Azerbaijani manat with regards to the US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0010 points or 0.10%. Average rate was fixed as 0.87227 manats per US dollar.
Last week, the maximum rate of the US dollar in respect to the manat was established on November 14 and 15 (0.8726 manats per 1 US dollar), minimum 16 November (0.8716 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $14,549mln with average sustained exchange rate of 0.8726 AZN/USD on 14 November, $2,809mln with average sustained rate of 0.8726 AZN/USD on 15 November, $3,696mln with average sustained rate of 0.8716 AZN/USD on November 16.
Due to the absence of appeals, no deal was concluded with Russian rouble and Euros last week.
Privatization Shares Market
During this period the prices of vouchers were stable and made up 82,000 old manats (16.4 AZN).