Baku: The Central Bank of Azerbaijan (CBA) has announced its updated forecasts for oil and gas prices for the upcoming year. CBA Chairman Taleh Kazimov disclosed during a press conference, focused on the discount rate, that the bank anticipates the average price of a barrel of oil to be between 64-65 US dollars. This new estimate represents a decrease of 0.6 dollars compared to the prior forecast.
According to Azeri-Press News Agency, the CBA has also revised its forecast for natural gas prices. The bank now expects the average price of a thousand cubic meters of natural gas to be 288 US dollars next year. This figure is slightly lower than the Central Bank’s previous estimate, which was set at 290 dollars.