IMF reveals breakeven oil price for Azerbaijan
By Trend
The fiscal breakeven oil price for Azerbaijan in 2019 will be $52 per barrel, in 2020 - $53.4 per barrel, according to the Regional Economic Outlook: Middle East and Central Asia November 2018 report of the International Monetary Fund (IMF), Trend reports.
In 2018, this indicator was equal to $56.2 per barrel, according to the report.
The breakeven price is the point at which total cost and total revenue are equal.
The IMF expects that the external breakeven oil price in Azerbaijan will be $64 per barrel in 2019 and $59.5 per barrel in 2020 (at a price of $76.3 per barrel in 2018).
The daily oil production in Azerbaijan will be 0.74 million barrels in 2019 (it was 0.76 million barrels in 2018), and 0.73 million barrels in 2020.
The daily oil export this year will be 0.62 million barrels (was 0.63 million barrels in 2018), in 2020 it will be reduced to 0.6 million barrels.
In Azerbaijan’s state budget for 2019, the oil price is set at $60 per barrel, for 2020 - $55.
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