Azerbaijani oil continues to fall in price
The price of one barrel of Azerbaijani Azeri Light oil on the world market fell by $0.64, or 0.7%, to $91.04.
A source in the oil market told Report about this.
Based on the results of trading, the price of September futures for Brent crude amounted to $85.28.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms fell by $0.99, or 1.11%, to $87.89 per barrel.
Azerbaijan's 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 on the development of the "Azeri-Chirag-Gunashli" (ACG) block of fields. The share of the State Oil Company (SOCAR) in the contract is 35.3%.
