Azeri Light oil price slides close to $4 amid trading downturn

The price of Azerbaijani Azeri Light crude oil on the global market has decreased by $3.94, or 4.55%, reaching $82.61 per barrel, according to local media.

In Turkey’s Ceyhan port, under Free On Board (FOB) terms, the price of Azerbaijani oil fell by $3.95, or 4.68%, to $80.35 per barrel.

Azerbaijan’s state budget for this year is based on an assumed average oil price of $65 per barrel. The lowest recorded price for Azeri Light was $15.81 on April 21, 2020, while the highest level was $149.66 in July 2008.

By Jeyhun Aghazada