Azeri Light Oil price drops slightly
Akbar Novruz
Read moreThe price of Azerbaijan's "Azeri Light" oil fell by 0.19 US dollars, or 0.25%, to 76.11 US dollars per barrel on the world market, Azernews reports.
In parallel, the price of Brent crude oil futures for November stood at 73.07 US dollars per barrel following the latest auctions.
For Azerbaijan's 2024 state budget, the average oil price has been estimated at 75 US dollars per barrel.
It's worth noting that the lowest recorded price for "Azeri Light" was 15.81 US dollars on April 21, 2020, while the highest was 149.66 US dollars in July 2008. Azerbaijan's oil production primarily stems from the Azeri-Chirag-Gunashli (ACG) field, where the State Oil Company of Azerbaijan (SOCAR) holds a 25% stake.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!