Azerbaijani Oil Price Goes Down
(MENAFN- AzerNews)
In the global market, the price of Azerbaijani oil branded
"Azeri Light" has decreased by $1.69, or 2.16%, to $76.64 per
barrel, Azernews reports.
The price of November futures for brent crude oil is $71.06 per
barrel.
The average price of a barrel of oil in Azerbaijan's state
budget for this year is estimated at $75.
It is worth noting that the lowest price for "Azeri Light" oil
was recorded on April 21, 2020, at $15.81, while the highest price
was $149.66 in July 2008. In Azerbaijan, oil is primarily produced
under the contract for the development of the
“Azeri-Chirag-Guneshli” (ACG) fields. The contract stipulates a 25%
share for the State Oil Company of Azerbaijan (SOCAR).
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