Price of Azerbaijani oil falls to $79
The price of one barrel of Azerbaijani Azeri Light oil on the world market fell by $2.98 or 3.63% to $79.09.
Report was informed about this by a source on the oil market.
As a result of trading, the price of September futures for Brent oil amounted to $75.39.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms fell by $3.1 or 3.9% to $76.31 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 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%.
