Azeri Light Oil Price Keeps Falling On World Market
(MENAFN- AzerNews)
Akbar Novruz
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The price of 1 barrel of "Azeri Light" brand oil on the world
market decreased by 0.25 US dollars, or 0.32%, reaching 78.3 US
dollars, Azernews reports.
As per the results of the auctions, the price for November
futures of "Brent" oil was recorded at 72.92 US dollars. In
Azerbaijan's state budget for this year, the average price of one
barrel of oil was calculated at 75 US dollars.
It is noteworthy that the lowest price for "Azeri Light" oil was
recorded on April 21, 2020, at 15.81 US dollars per barrel, while
the maximum price reached 149.66 US dollars per barrel in July
2008. In Azerbaijan, oil is primarily produced within the framework
of the Azeri-Chirag-Gunashli (ACG) field block development
agreement, in which the State Oil Company of Azerbaijan (SOCAR)
holds a 25% share.
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