Azerbaijani oil drops in price by almost 2%
The price of one barrel of Azerbaijani Azeri Light oil on the world market fell by $1.42, or 1.51%, to $92.55.
A source on the oil market told 1news.az about this.
Following the close of trading, the price of September futures for Brent crude was $92.06.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms fell by $1.64, or 1.8%, to $89.36 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%.
