Azerbaijani Oil Price Rises In World Market
(MENAFN- AzerNews)
The price of 1 barrel of "Azeri Light" Azerbaijani oil on the
world market increased by 1.27 US dollars, or 1.4 %, to 91.32 US
dollars, Azernews reports, citing sources.
According to the results of the auctions, the price of September
futures of "Brent" brand oil was 87.15 US dollars.
In this year's state budget of Azerbaijan, the average price of
one barrel of oil was calculated from 75 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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