The price of Azerbaijani oil dropped below $131

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $1.56 or 1.19% - to $130.79.

As reported by BAKU.WS, Report was informed by a source on the oil market.

At the close of trading, the price of June futures for Brent crude oil amounted to $128.46.

The price of Azerbaijani oil at the Turkish port of Ceyhan under FOB conditions (BTC FOB) decreased by $1.47 or 1.18% - to $124.08 per barrel.

In Azerbaijan's state budget for this year, the oil price is set at $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, Azeri Light crude oil is produced under the agreement for 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%.