Baku. 22 July. REPORT.AZ/ Oil prices more depend on political rather than economic factors.
Report informs, President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev told journalists. According to him, oil fell below $ 60 cost has led to the suspension of 50% of the work in this area.
We expect oil prices will range between 65-75 dollars a barrel.
Oil above $ 70 a barrel doesn't pose a challenge for normal functioning of SOCAR.