Azerbaijani Oil Price Falls
Date
8/17/2024 5:15:55 AM
(MENAFN- AzerNews)
The price of a barrel of Azeri Light crude oil decreased by
$1.82, or 2.13%, settling at $83.72, Azernews
reports.
Azeri Light crude oil hit its lowest price on April 21, 2020, at
$15.81 per barrel, and reached its highest price in July 2008, at
$149.66 per barrel.
For reference, the average price per barrel of oil in
Azerbaijan's state budget for this year is calculated at $75. It is
worth noting that the lowest recorded price for "Azeri Light" oil
was $15.81 on April 21, 2020, while the highest was $149.66 in July
2008.
Oil in Azerbaijan is primarily extracted under the contract for
the development of the "Azeri-Chirag-Gunashli" (ACG) field block,
where the State Oil Company of Azerbaijan (SOCAR) holds a 25%
stake.
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