In quarter 2, 2015 Oil Fund’s assets shown good growth

By June 30, 2015 assets of the State Oil Fund of Azerbaijan (SOFAZ) totaled $35,783,300,000. As compared to early year Oil Fund’s assets decreased by 3.56% or by 1,320,800,000.

            As compared to June 30, 2014 when oil price was twice higher, SOFAZ’s assets totaled 37,622,400,000. During a year assets of the Oil Fund decreased by 1,839,100.

            However, as Caspian Barrel found out from the SOFAZ report, during quarter  2, 2015 the  Oil Fund’s assets increased by $852.8 million against quarter 1, 2015 ($34,930,500,000). This was caused by the fact that in quarter 2, 2015 average export price of oil was almost $10.00 higher, than from January to March 2015.