Azerbaijani oil falls by $4
The price of one barrel of Azerbaijani Azeri Light crude on the world market fell by $3.95 or 4.36% to $86.55.
Report was informed about this by a source on the oil market.
At the close of trading, the price of August Brent crude futures stood at $84.45.
The price of Azerbaijani oil at Turkey's Ceyhan terminal on FOB terms fell by $3.93 or 4.45% to $84.3 per barrel.
Azerbaijan's state budget for this year assumes an oil price of $65.
Recall that the lowest price for Azeri Light crude was recorded on April 21, 2020 ($15.81), and the highest in July 2008 ($149.66).
In Azerbaijan, oil is produced mainly under the agreement for development of the Azeri-Chirag-Gunashli (ACG) block of fields. The State Oil Company (SOCAR) holds a 31.65% stake in the contract.
