IMF predicts breakeven price for Azerbaijani oil until 2031

According to the International Monetary Fund (IMF), the fiscal breakeven price of Azerbaijani oil will be $87.3 per barrel in 2025, Report informs.

Next year the average oil price is expected to be $85.6, and by 2030, it will increase to $91.3 per barrel.

The IMF expects that in 2025 the external breakeven price of oil for Azerbaijan will be $167.8 per barrel, in 2026 - $167, and in 2030 - $215 per barrel.

The price of oil in Azerbaijan's state budget for this year is set at $70 per barrel. In Azerbaijan, oil is produced mainly under the agreement on the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The State Oil Company's (SOCAR) share in the contract is 31.65%.