BAKU, Azerbaijan, April 15. The forecasts presented by the Ministry of Economy in March this year show that the base case scenario foresees the average annual export price of a barrel of oil at $65 for 2026 and remaining the same for 2027-2029, Trend reports via the Ministry of Finance.
" According to the report, the stabilization measures for oil and gas production are projected to result in an increase in oil and gas production in 2029. Although oil production will decline in 2025, according to data provided by the Ministry of Economy, the increase in gas production will have an upward impact on the sector's development. Given the continued decline in oil and marketable gas production between 2027 and 2029 (excluding 2029), the oil and gas sector is projected to decline," the report said.
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