Price of Azeri Light crude declines on global markets

The price of Azerbaijan’s Azeri Light crude oil on the global market has decreased by $1.73, or 1.69%, reaching $100.57 per barrel.

In the Turkish port of Ceyhan, the price per barrel of Azeri Light on an FOB basis also fell by $1.69 (1.69%) to $98.38, Caliber.Az reports via local media.

The Azerbaijani state budget for the current year is based on an average oil price of $65 per barrel.

The lowest recorded price for Azeri Light was in April 2020 at $15.81 per barrel, while the historical peak was in July 2008 at $149.66 per barrel.

By Jeyhun Aghazada