Azerbaijani oil has slightly decreased in price

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $0.06 or 0.05% - to $122.26.

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 $122.86.

The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms decreased by $0.04 or 0.04% - to $118.98 per barrel.

In Azerbaijan's state budget for this year, the oil price is set at $65.

It should be noted 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%.