Azerbaijani Oil Prices Rise
Date
6/29/2024 10:17:04 PM
(MENAFN- AzerNews)
Fatime Letifova
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The price of one barrel of Azeri Light Azerbaijani oil on the
world market increased by 0.09 US dollars, or 0.1%, and amounted to
88.58 US dollars, Azernews reports.
According to the results of the auctions, the price of August
futures of "Brent" brand oil was 86.04 US dollars.
In this year's state budget for Azerbaijan, the average price of
one barrel of oil was calculated at 60 US dollars.
It should be noted that the lowest price of "Azeri Light" oil
was recorded on April 21, 2020 (US$ 15.81), and the maximum price
was recorded in July 2008 (US$ 149.66). In Azerbaijan, oil is
mainly produced within the framework of the agreement on the
development of the Azeri-Chirag-Gunashli (ACG) field block. The
share of the State Oil Company of Azerbaijan (SOCAR) in the
agreement is 25%.
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