Baku, Azerbaijan, May 2
By Leman Zeynalova – Trend:
Fiscal breakeven oil price (the oil price at which the fiscal balance is zero) in Azerbaijan is expected to be $62 per barrel in 2018, according to the updated Regional Economic Outlook of the International Monetary Fund (IMF).
This figure stood at $54.3 per barrel in 2017 and is forecasted to be equal to $59.3 per barrel in 2019.
IMF expects the external breakeven oil price (the oil price at which the current account balance is zero) in Azerbaijan at $75.5 per barrel in 2018 and $74.6 per barrel in 2019, as compared to $57.4 per barrel in 2017.
The country is expected to produce 0.79 million barrels of oil per day in 2018, as compared to 0.8 million barrels per day in 2017, according to the IMF estimates.
This figure is expected to stand at 0.78 million barrels per day in 2019, said the report.
IMF forecasts the volume of oil export from Azerbaijan to drop from 0.76 million barrels per day in 2017 to 0.75 million barrels per day in 2018 and to stand at 0.74 million barrels per day in 2019.
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