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Azerbaijani oil dropped in price by nearly $6
The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $5.55 or 4.68% - to $113.01.
As reported by BAKU.WS, Report was informed by a source on the oil market.
At the close of trading, the price of June Brent crude oil futures stood at $116.55.
The price of Azerbaijani oil at Turkey's Ceyhan port under FOB terms decreased by $5.11 or 4.48% - to $108.93 per barrel.
In Azerbaijan's state budget for this year, the oil export price is set at the level of $65.
It should be recalled that the minimum price for Azeri Light crude was recorded on April 21, 2020 ($15.81), and the maximum - in July 2008 ($149.66).
In Azerbaijan, oil is mainly produced 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 31.65%.
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