Azerbaijan may reduce oil prices approved in state budget: expert

Azerbaijan, Baku, March 13 / Trend , E.Ismayilov/

The oil prices approved in the 2009 state budget at $70 per barrel may be reduced to $40 per barrel in May, Public Finance Monitoring Center head Ingilab Ahmadov said.

The expected reduction is due to falling oil prices resulting from the global financial crisis.

"I think a practical oil price is $40 per barrel," Ahmadov said.