Azerbaijani Oil Price Falls to $122 per Barrel
The price of Azerbaijani Azeri Light crude fell to $122.49 per barrel on world markets, down $5.11, or 4%. Report cited the oil market source.
Abdulrahman Sadikhli1 min read
The price of Azerbaijani Azeri Light crude on world markets fell to $122.49 per barrel. This is $5.11, or 4%, below the previous level. Report cited the source in the oil market.
Oil quotations
According to auction results, December Brent futures stood at $119.52 per barrel.
At the Turkish terminal Ceyhan, on a FOB basis, a barrel of Azeri Light cost $112.12. This is $4.28, or 3.68%, lower.
Reference data
In Azerbaijan's state budget for the current year, the average price of a barrel of oil is set at $65.
The minimum price of Azeri Light was fixed on April 21, 2020 ($15.81), and the maximum was in July 2008 ($149.66). Oil of this grade is produced in Azerbaijan under the agreement on the development of the Azeri-Chirag-Guneshli (ACG) block. The State Oil Company of Azerbaijan (SOCAR) holds a 35.3% stake in the agreement.
Source: report.az
