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IMF releases forecast of Azerbaijan's oil sector for 2020-2021

Oil&Gas Materials 20 October 2020 11:05 (UTC +04:00)

BAKU, Azerbaijan, Oct. 20

By Fidan Babayeva - Trend:

The fiscal breakeven oil price for Azerbaijan in 2020 will be $63 per barrel, and $67.4 per barrel in 2021, at which financial losses and state profits converge and balance, Trend reports citing the IMF’s October release of the Regional Economic Outlook report for the Caucasus and Central Asia.

In 2019, the mentioned indicator was $45.1 per barrel, the report added.

According to the report, the IMF predicts the external breakeven oil price for Azerbaijan in 2020 at $77.9 per barrel, as well as at $91.3 per barrel in 2021. In 2019, this figure was $79.1 per barrel.

The IMF says that the presented forecast was made taking into account the COVID-19 pandemic and lower oil prices in global markets.

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