`Oil price will stay under $50 in medium

26 November 2024

`Oil price will stay under $50 in medium term`

16:02 26 May 2016 Read: 970

`Oil price will stay under $50 in medium term`

Oil price will stay under $50 in the medium term, Executive Director of SOFAZ Shahmar Movsumov said in his interview to The Business Year magazine.

Movsumov said it is difficult to precisely forecast the price level: “However, recent trends, including the return of Iranian oil to the market, make us to believe that the price will stay under $50 per barrel in the medium term”.

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