The price of 1 barrel of Azerbaijani oil branded "Azeri Light" on the world market has decreased by 2.3 US dollars or 2% and amounted to 113.7 US dollars.
Medianews.az reports that this information was given to Report by a source in the oil market.
According to the auction results, the price of May futures for "Brent" crude oil stood at 109.58 US dollars.
At Turkey's Ceyhan port on an FOB basis, the price of one barrel of Azerbaijani oil branded "Azeri Light" decreased by 3.14 US dollars or 2.84% and amounted to 107.24 US dollars.
In Azerbaijan's state budget for this year, the average price of one barrel of oil was calculated at 65 US dollars.
It should be recalled that the lowest price of "Azeri Light" oil was recorded on April 21, 2020 (15.81 US dollars), and the highest price was recorded in July 2008 (149.66 US dollars). Oil of this brand is produced in Azerbaijan within the framework of the contract for the development of the "Azeri-Chirag-Gunashli" (AÇG) field block. According to the contract, the Azerbaijan State Oil Company (SOCAR) holds a 31.65% share.