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The price of Azerbaijani oil continues to fall
The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $1.07 or 0.87% - to $121.08.
As reported by BAKU.WS, Report was informed by a source on the oil market.
At the close of trading, the price of October Brent crude oil futures amounted to $125.47.
The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms decreased by $1.12 or 0.96% - to $115.5 per barrel.
In Azerbaijan's state budget for this year, the oil price is set at $65.
As a reminder, the minimum price of Azeri Light oil 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 35.3%.
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