Oil and gas exports from Azerbaijan expected to increase in 2022

By Trend

An increase in oil and gas exports from Azerbaijan is expected in 2022, the Central Bank of Azerbaijan (CBA) told Trend.

According to the CBA, on some days of March oil prices rose to the highest level since 2008.

The bank noted that a dramatic rise in oil and natural gas prices, making up a significant share of Azerbaijani exports, had been recorded in the oil and gas industry since the end of January 2022.

"Thus for example, the average price of Brent Dated oil amounted to $96 in January through February 2022, up by 35 percent than the average price in 2021 ($71)," the CBA said.