BAKU, Azerbaijan, Apr.21
By Leman Zeynalova – Trend:
Fiscal breakeven oil price (oil price at which the fiscal balance is zero) for Azerbaijan is estimated at $82.5 per barrel in 2021 and $66.4 per barrel in 2022, Trend reports citing the International Monetary Fund (IMF).
The breakeven price averaged at $52.1 per barrel in 2000–2017, $56.5/bbl in 2018, $44.7/bbl in 2019 and $ 65/bbl in 2020, according to the organization’s data.
External breakeven oil price (oil price at which the current account balance is zero) for Azerbaijan is expected to stand at $98.6/bbl in 2021and $98/bbl in 2022.
IMF estimates that this figure amounted to an average $55.2/bbl in 2000-2017, $73.9/bbl in 2018, $79.1/bbl in 2019 and $69.5/bbl in 2020.
Oil prices are forecast to average $56/ bbl in 2021 and rise to $60/bbl in 2022, broadly in line with their 2017-19 average, according to the World Bank (WB).
WB expects demand to firm over 2021 as the economic recovery gains momentum and vaccinations become more widely available, particularly in advanced economies.
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