Price of Azerbaijani oil falls to $102
The price of Azerbaijani Azeri Light crude on the world market fell by $4.18, or 3.92%, to $102.3 per barrel.
As Report reports, a source on the oil market said this.
July futures for Brent crude closed at $99.59 per barrel.
At the Turkish port of Ceyhan, the price of a barrel of Azeri Light on FOB terms (BTC FOB) fell by $4.15 or 3.98%, to $100.07.
The state budget of Azerbaijan for the current year assumes an average oil price of $65 per barrel.
It is noted that the minimum price for Azeri Light was recorded on April 21, 2020 ($15.81), and the maximum in July 2008 ($149.66). Oil of this grade is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) block of fields, with the State Oil Company of Azerbaijan (SOCAR) holding a 31.65% stake.
