Khoshbakht Yusifzade: Falling oil prices will reduce some expenses

Vice-President of SOCAR: 60 dollars per barrel price is not low

Baku.11 March. REPORT.AZ/ Fall in oil prices on the world market may reduce some of the costs in this area.

Report, it was declared by the first vice-president of State Oil Company of Azerbaijan (SOCAR) Khoshbakht Yusifzade.

K.Yusifzade noted that the drop in oil prices is a normal process: In 1994, when he signed the Contract of the Century, the price for a barrel of oil was 16 dollars.Later, the oil price rose to 110 dollars per barrel.Reduction is also normal and in comparison of 16 dollars with the price of 60 dollars is not a low price.

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