Azerbaijani oil falls more than $4
The price of one barrel of Azerbaijani Azeri Light oil on the world market fell by $4.36 or 4.56% to $91.22.
This was reported to Report by a source on the oil market.
At the end of trading, the price of September futures for Brent crude oil was $85.74.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms fell by $4.59 or 5.01% to $86.89 per barrel.
The Azerbaijani state budget for this year is based on an oil price of $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%.
