Price of Azerbaijani oil falls below $80
The price of one barrel of Azerbaijani Azeri Light crude on the world market fell by $0.67 or 0.83% — to $79.76.
This was reported to Report by a source on the oil market.
At the end of trading, the price of August futures for Brent crude was $75.39.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms fell by $0.78 or 1% — to $77.35 per barrel.
The Azerbaijani state budget for this year sets the oil price 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 for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company (SOCAR) in the contract is 31.65%.
