Despite Market Woes, Oil Supply Cut Extension Still On The Table

Despite Market Woes, Oil Supply Cut Extension Still On The Table Vugar Bayramov: “The OPEC-led move to drain the oil glut in global markets failed to bring desired results” Oil producing countries, including those in the Caspian region, are still deliberating whether or not to extend a multilateral agreement reached last year that required cuts to production over the first six months of 2017. “Consensus is building, but it is not done yet. We... Read More

Does decline of oil price cause Azerbaijani national currency depreciation?

Does decline of oil price cause Azerbaijani national currency depreciation? Azerbaijani national currency, manat, will keep a stable rate against US dollar in the short term, the chairman of the Center for Economic and Social Development (CESD), well-know economist Vugar Bayramov said. In the medium and long term, then, according to Bayramov, here is difficult to predict manat’s rate since It will depend on the world oil market. “Despite the... Read More