Low oil price working against Russia

During the Azerbaijan energy summit the opinion prevailed that in 2009 prices on oil will not be very high. It was also said, more controversially, that keeping the oil price at a lower level is a tool which could force Russia to be less aggressive, because oil dollars have fuelled grand ambition in that country.

Azeri political analyst Oktai Sadikhzade thinks that the West has indeed imposed this price tactic to quell Russia’s ambitions. He also says that preserving low prices on oil is a very difficult task, highlighting that Azerbaijan itself is interested in an oil price increase.