Azerbaijani Oil Price Drops To $75
Date
9/27/2024 5:11:25 AM
(MENAFN- AzerNews)
Akbar Novruz
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The price of Azerbaijani "Azeri Light" oil has fallen by $2.51,
or 3.22%, reaching $75.43 per barrel on the world market,
Azernews reports.
This decline comes as November futures for brent crude also
dropped, standing at $71.6 per barrel.
For Azerbaijan, this brings the oil price closer to the $75 per
barrel average set in the country's 2024 state budget.
Historically, "Azeri Light" hit its lowest point on April 21, 2020,
at $15.81, and its highest in July 2008, at $149.66.
Most of Azerbaijan's oil is produced under the
"Azeri-Chirag-Gunashli" (ACG) field block, where SOCAR holds a 25%
share.
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