Azerbaijani Oil Price Slightly Increases
(MENAFN- AzerNews)
Fatima Latifova
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The price of one barrel of "Azeri Light" brand Azerbaijani oil
on the world market has increased by $0.26, or 0.3%, reaching
$84.28, Azernews reports.
According to the auction results, the price of October futures
for "Brent" oil was $80.1.
In Azerbaijan's current state budget, the average price of one
barrel of oil is calculated at $75.
It should be noted that the lowest price of "Azeri Light" oil
was recorded on April 21, 2020 ($15.81), and the maximum price was
recorded in July 2008 ($149.66). In Azerbaijan, oil is mainly
produced within the framework of the contract for the development
of the "Azeri-Chirag-Guneshli" (ACG) field block. The State Oil
Company of Azerbaijan Republic (SOCAR) has a 25% share in the
contract.
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