Aliev allowed a new oil boom in Azerbaijan

A situation is possible in Azerbaijan when a new oil boom may occur, as the country increases gas production and reduces oil production. This was announced by President of Azerbaijan Ilham Aliyev on January 21.

"We are increasing gas production, reducing oil production. But we have plans to stabilize oil production and even increase it. Perhaps it's too early to talk about it now, but we have well-founded hopes that we can survive a second very significant oil boom," Aliyev said at the World Economic Forum in Davos.

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