Parviz Shahbazov: Oil price in $60 to $70 corridor to be 'very positive for our economy'

Baku. 7 February. REPORT.AZ/ “If the price settles in the $60 to $70 corridor, it will be very positive for our economy, for our plans," Azerbaijan's Energy Minister Parviz Shahbazov told Bloomberg.

He said this is “the best price for producers and consumers.”

The minister noted that OPEC and its allies will probably extend their oil-cuts agreement later this year.

“It’s realistic that the decision might have to be extended,” Parviz Shahbazov said in an interview.