Azerbaijani oil falls in price by almost $2
The price of one barrel of Azerbaijani Azeri Light crude on the world market fell by $1.99, or 2.05%, to $95.13.
A source on the oil market told Report about this.
Following the trading session, the price of October futures for Brent crude stood at $92.6.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms fell by $2.08, or 2.22%, to $91.62 per barrel.
Azerbaijan's state budget for this year is based on an oil price of $65.
It should be recalled 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%.
