Natig Aliyev: "Oil price will not exceed 60 USD in 2016"

Baku. 23 May. REPORT.AZ/ World oil prices will not exceed the limit of 60 USD/ barrel in 2016.

Report informs, Azerbaijani Energy Minister Natig Aliyev said in the interview with ANS TV.

"Although no decision was adopted at the meeting in Doha on the freezing of certain levels of oil production, price of oil began to rise and exceeded 49 USD/barrel. I think that the price will rise a bit by the end of this year. However, in 2016 oil price will not exceed 60 USD/barrel.

Because in case of rising above 60 USD/barrel other processes will happen and prevent further growth", N. Aliyev said. 

The minister added that the sharp rise in oil prices is not expected this year.

"In 2017, oil prices could rise further by 5-10 USD", N.Aliyev added.