| Azerbaijan’s state oil fund SOFAZ is working out a mechanism for decreasing its expenditures. This measure is taken to ensure the sustainability of the fund’s development in the coming years, SOFAZ Head Shahmar Movsumov told Trend Agency. He noted the global decrease in oil prices will negatively affect the revenues of SOFAZ. In this regard, SOFAZ is working out various scenarios to balance its revenues.
The decrease in oil prices is continuing acorss the globe. Currently, the price per a barrel of oil (depending on the grade of oil) is approximately $60 in the world markets, while prior to the continuous decrease, this figure exceeded $110 per barrel...............................................Full Article: Source
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