Azerbaijani oil fell in price to $95
The price of one barrel of Azerbaijani oil of the Azeri Light brand on the world market decreased by $4.82 or 4.82% - to $95.27.
A source in the oil market told Report about this.
Following the trading results, the price of August futures for Brent oil amounted to $93.76 per barrel.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB conditions decreased by $4.72 or 4.83% - to $92.95 per barrel.
In the state budget of Azerbaijan for this year, the oil price is set at $65.
Recall that the minimum price for Azeri Light oil was recorded on April 21, 2020 ($15.81), and the maximum - in July 2008 ($149.66).
In Azerbaijan, oil is produced mainly under the agreement on the development of the Azeri-Chirag-Gunashli (ACG) field block. The share of the State Oil Company (SOCAR) in the contract is 31.65%.
