Baku: "In the current dynamic and highly volatile global oil market, the logistical solutions offered by our region - the Caspian and Central Asia - play a key role," said Taghi Taghizade, Director of Commercial Affairs at SOCAR Trading (the trading arm of SOCAR), during the "Caspian and Central Asia Oil Trading and Logistics Forum" organized by GLENMAR Group, APA reports.

According to Azeri-Press News Agency, Taghi Taghizade emphasized the impact of fluctuating oil prices on global markets, which continue to stress and add volatility to the market environment. He highlighted that the region's logistical capabilities are crucial in navigating these challenging conditions.

Taghizade further noted that production indicators and refining margins are critical factors for the sector. He observed that refining margins, which had reached record highs in recent years, are now returning to levels more typical of 2019-2021. Despite this decline, he mentioned that the margins remain relatively supportive for the industry.

The forum, bringing together key players from the oil trading and logistics sectors, underscored the importance of strategic logistical solutions from the Caspian and Central Asia in ensuring market stability amid ongoing global uncertainties.