Azerbaijani oil falls to $95 per barrel
The price of one barrel of Azerbaijani Azeri Light crude on the world market decreased by $7.15 or 6.9% to $95.58.
This was reported to Report by a source on the oil market.
Following the trading, the price of September futures for Brent crude amounted to $90.55.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms decreased by $7.27 or 7.4% to $91.48 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%.
