OIL PRICE IN THE WORLD AND ITS INFLUENCE TO AZERBAIJAN CURRENCY (devaluation)
1.OPEC
2.The oil content in the world and changes in its price
3.Devaluation in the Azerbaijan,its results and analyses
Research background—Why discussing this topic is relevant, what are you going to discuss/how/why? 1.OPEC
The existing oil stocks in the world equal to 1317 bin barrel. About 75% of these resources belongs to OPEC. OPEC (The Organization of the Petrolium Exporting Countries) – is a organization that was created by petroleum exporting countries to regulate oil price. The members of this organization are the countries that their economy depend on oil. OPEC as permanent …show more content…
In July 2008, during half year it lost almost 70% of its value by reaching its maximum ( 147.26$ per barrel). As a main reason of that “boom”, excessively heat with speculative capital was shown by analytics. Although, principally 100$ for a barrel is acceptable, but its price ,definitely, can not be 140$. As a result, oil price was stabilized around 40-50$/barrel, but dropped till 38-42$/barrel in spring 2009. At that time, it get rid of dependency of dynamic of USA currency. The market reached it lowest? It was difficult to answer this question. Although it was bought about half year ago, but then it was already excessively sold. At that time, the fair price of oil ,according to experts, was 101$/barrel. But at the moment, taking into account changes in world economy new fair price is 70-90$/barrel. However, the hopes that oil quotations size will reach its peak as same as in 2009 are not …show more content…
Azerbaijan National Bank assigned the values of the Manat according to dollar as 1.05 AZN (AZN – is a brief form of Azerbaijan New Manat). That was 33.8% percent devaluation (before 1$=0.78 AZN). In 2015 ,December21 AZN changed faced the second devaluation and official exchange rate of 1$ ranked in a level of 1.55 AZN . Currently this currency work like “floating” currency. It means that it has already used it stability. Still its value goes down. Right now (2016 December) 1$ in National Bank has 1.73 AZN. It means that Azerbaijan currency has lost its value around 140%.It is the worst results of Azerbaijan economy during the last 25
1.OPEC
2.The oil content in the world and changes in its price
3.Devaluation in the Azerbaijan,its results and analyses
Research background—Why discussing this topic is relevant, what are you going to discuss/how/why? 1.OPEC
The existing oil stocks in the world equal to 1317 bin barrel. About 75% of these resources belongs to OPEC. OPEC (The Organization of the Petrolium Exporting Countries) – is a organization that was created by petroleum exporting countries to regulate oil price. The members of this organization are the countries that their economy depend on oil. OPEC as permanent …show more content…
In July 2008, during half year it lost almost 70% of its value by reaching its maximum ( 147.26$ per barrel). As a main reason of that “boom”, excessively heat with speculative capital was shown by analytics. Although, principally 100$ for a barrel is acceptable, but its price ,definitely, can not be 140$. As a result, oil price was stabilized around 40-50$/barrel, but dropped till 38-42$/barrel in spring 2009. At that time, it get rid of dependency of dynamic of USA currency. The market reached it lowest? It was difficult to answer this question. Although it was bought about half year ago, but then it was already excessively sold. At that time, the fair price of oil ,according to experts, was 101$/barrel. But at the moment, taking into account changes in world economy new fair price is 70-90$/barrel. However, the hopes that oil quotations size will reach its peak as same as in 2009 are not …show more content…
Azerbaijan National Bank assigned the values of the Manat according to dollar as 1.05 AZN (AZN – is a brief form of Azerbaijan New Manat). That was 33.8% percent devaluation (before 1$=0.78 AZN). In 2015 ,December21 AZN changed faced the second devaluation and official exchange rate of 1$ ranked in a level of 1.55 AZN . Currently this currency work like “floating” currency. It means that it has already used it stability. Still its value goes down. Right now (2016 December) 1$ in National Bank has 1.73 AZN. It means that Azerbaijan currency has lost its value around 140%.It is the worst results of Azerbaijan economy during the last 25