Azerbaijani oil drops by nearly $10
The price of one barrel of Azerbaijani oil of the Azeri Light brand on the world market decreased by $9.57, or 8.07%, to $108.99.
This was reported to Report by a source in the oil market.
At the close of trading, the price of July futures for Brent crude oil was $104.19.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms decreased by $9.54, or 8.26%, to $105.91 per barrel.
In Azerbaijan's state budget for this year, the price of oil is set at $65.
As a reminder, the lowest price for Azeri Light oil was recorded on April 21, 2020 ($15.81), while the highest was in July 2008 ($149.66).
In Azerbaijan, oil is mainly produced under the agreement for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 31.65%.
