Compared to October 2016, OPEC reduced oil output by 2.03 million b/d in April and fulfilled the Vienna agreement by 172%, APA-Economics reports quoting IEA.

In January-April 2018, Azerbaijan exported 987,949.77 kWh of energy worth $47,303,790, relevantly up 600,543.32 kWh or 2.55-fold and $30,768,690 or 2.86-fold compared to a year earlier.

Azerbaijan imported 5,310 cars in January-April 2018, up 3,367 cars or 2.73-fold from previous year.

The price of OPEC basket of fourteen crudes stood at $74.22 a barrel on May 14, compared with $74.42 on May 11, according to OPEC Secretariat calculations.

Azerbaijani residents traded with physical and juridical persons of 146 countries in January-March 2018, 136 countries exported goods to Azerbaijan, 92 countries imported from Azerbaijan.

The U.S. Dow Jones stock index increased by 0.27% to 24,899.41 points, S&P 500 rose by 0.09% to 2,730.13 points and NASDAQ went down by 0.11% to 7,411.32 points.

The National Fund for Entrepreneurship Support (NFES) under the Economy Ministry of Azerbaijan has begun accepting investment projects on priority development areas in the Shamkir district, the Economy Ministry said in a message May 14.

The State Customs Committee (SCC) of Azerbaijan and the Food Security Agency have signed a Memorandum of understanding.

The prices of main precious metals increased in Azerbaijan on May 11, according to the data published by the country’s Central Bank.

Oil prices go down

During the NYMEX electronic trading operations, the WTI crude oil decreased by $0.07 or 0.10% to $71.29 a barrel, APA-Economics reports.

In accordance with the Vienna agreement reached by OPEC and non-OPEC countries, Azerbaijan has submitted the data on oil output for April 2018 to the Joint Technical Commission of the Joint Monitoring Committee.

Today, a bilateral currency auction was held at the Central Bank, in which SOFAZ also participated.

Ambassador Extraordinary and Plenipotentiary of the Republic of Turkey to the Republic of Azerbaijan Erkan Ozoral will attend as honoured guest the fourteenth CEO Lunch Baku to be hosted by the Caspian European Club on May 15, First Deputy Chairman and Chief Executive Officer of the Caspian European Club Telman Aliyev said.

Mirza Aliyev has been appointed as the new head of State Service on Management of Agricultural Projects and Credits under the Ministry of Agriculture of Azerbaijan, the ministry told Trend May 10.

European Bank for Reconstruction and Development (EBRD) forecasts 2.5%-growth in Azerbaijan’s GDP in 2018, says the Bank's Regional Economic Prospects report.

The prices of main precious metals increased in Azerbaijan on May 10, according to the data published by the country’s Central Bank.

Iran and Spain signed a memorandum of understanding for cooperation in oil and gas sector on the sidelines of Tehran-Madrid joint working group meeting.

The ceremony of signing the Memorandum of Understanding between the State Customs Committee (SCC) of Azerbaijan and the Anti-Corruption General Directorate with the Prosecutor General's Office was held in Baku May 8.

The Trans-Caspian International Transport Corridor (TITR) opens up additional opportunities to attract freight traffic from the Asian region and realize the transit potential of Ukraine, Head of the Ukrainian Railways PJS Evgeny Kravtsov said in Baku on May 8.

In 2018 SOCAR Georgia Gas will invest GEL7 million in repair of gas distribution networks in Georgia, Director of the SOCAR Georgia Gas, Azer Mammadov said at the 5th International “Caspian Energy Forum – 2018” in Tbilisi.

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