The Effect of Oil Prices on Azerbaijan’s Economy (2009–2018)

Since oil plays an important role in the economy of Azerbaijan, events global market deeply affect national economy. Moreover, COVID-19 pandemic influenced which and gas have a significant place. In April 2020, price one barrel on world fell to $1. One reason for this was decrease demand due lockdown re-gime implemented by many countries rapid outbreak pandemic, another that OPEC (Organization Petroleum Exporting Countries) could not agree reducing production. The aim research is show impacts prices gross domestic product (GDP) growth rate GDP, amount production Azerbaijan 2009-2018. hypothesis seriously influence there correlation between Azerbaijan’s prices. study starts with brief description history industry, followed industry’s importance foreign economic relations, effects country. quantitative method used as key method. data analysis were collected according literature scanning method, collection techniques. Further, descriptive statistics technique, analyse data. findings changes 2009-2018 directly product, Azerbaijan. Thus, increase, country’s GDP increase decrease.