Baku, Azerbaijan, May 3
By Leman Zeynalova – Trend:
Fiscal breakeven oil price (the oil price at which the fiscal balance is zero) in Azerbaijan is expected to be $91.4 per barrel in 2017, as compared to $50.1 per barrel in 2016, according to the updated Regional Economic Outlook of the International Monetary Fund (IMF).
This figure is forecast to stand at $51.2 per barrel in 2018, according to the report.
IMF expects the external breakeven oil price (the oil price at which the current account balance is zero) in Azerbaijan at $45.1 per barrel in 2017 and $36.4 per barrel in 2018, as compared to $42.1 per barrel in 2016.
The country is expected to produce 0.80 million barrels of oil per day in 2017, as compared to 0.83 million barrels per day in 2016, according to the IMF estimates.
This figure is expected to stand at 0.81 million barrels per day in 2018, said the report.
IMF forecasts the volume of oil export from Azerbaijan to drop from 0.77 million barrels per day in 2016 to 0.76 million barrels per day in 2017 and to stand at 0.75 million barrels per day in 2018.
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