Azerbaijan, Baku, May 22 / Trend E. Ismayilov /
Prices for oil can hit over $100 per barrel in case of sharp growth of the world economy after the end of the world financial-economic crisis, Azerbaijani ministry of industry and energy Natiq Aliyev said on May 22.
"I think prices will be normal by late 2009. I am sure that if after crisis burst happens in the world economy, prices can hit over $100 and return to the level that was in 2008," Aliyev said.
Earlier prices for oil dropped. Presently, this index exceeds $60 per barrel. According to OPEK, price for oil in the amount of $70 per barrel is normal for both producers and oil importers, Aliyev said.
"Impact of crisis was minimal in Azerbaijan. But the country achieved great results," Aliyev said.
Presently, oil and gas sector has great importance for Azerbaijani economy. "I think that oil and gas sector will be basis of our economy during 10-15 years," Aliyev said.
"Increasing of oil and gas production will continue during several years that will promote improving of population's level of life. Moreover, non-oil sector develops too," Aliyev said.
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