Azeri Light falls below $100 a barrel, bitcoin under $70,000
Azeri Light crude fell below $100 a barrel on world markets. According to an oil market source, the price stood at $99.88 at the time of the report.
Yulduz Salimov1 min read
The price of Azerbaijani Azeri Light crude fell below $100 a barrel on world markets. According to information from an oil market source cited by Report, the cost of one barrel stood at $99.88, which is $0.75, or 0.74%, lower than the previous value.
According to the same data, in Turkey, at the port of Ceyhan, Azeri Light was valued at $95.9 a barrel on an FOB basis. This is $0.74, or 0.76%, lower.
According to auction results, the price of January Brent futures stood at $92.06 a barrel.
In Azerbaijan's state budget for the current year, the average price of a barrel of oil is set at the level of $65.
Azeri Light is produced under the agreement on the development of the Azeri-Chirag-Guneshli (ACG) block. In this agreement, the share of the State Oil Company of the Republic of Azerbaijan (SOCAR) is 35.3%.
The minimum price of Azeri Light was recorded on 21 April 2020 ($15.81 a barrel), and the maximum in July 2008 ($149.66 a barrel).
Source: report.az
