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The price of Azerbaijani oil has dropped below $141
The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $1 or 0.7% - to $140.68.
As BAKU.WS reports, this was reported by Report citing a source on the oil market.
At the close of trading, the price of June Brent crude oil futures stood at $144.42.
The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms (BTC FOB) decreased by $0.57 or 0.42% - to $134.58 per barrel.
In Azerbaijan's state budget for this year, the oil price is set at the level of $65.
As a reminder, 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%.
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