Azeri Light crude oil prices dropped slightly to $73.40 per barrel, affecting Azerbaijan's budget.

Azeri Light crude oil prices have seen a slight decline this week, with CIF prices dropping to $73.40 per barrel, while FOB prices at Ceyhan averaged $72.16. The URALS crude price fell to $60.31, and Dated Brent averaged $72.86. Despite this, Azeri Light gained around $1, reaching $74.80. Azerbaijan's budget relies on an average oil price of $75 per barrel. Oil production is primarily from the Azeri-Chirag-Guneshli field, with SOCAR holding a 25% stake.

November 02, 2024
3 Articles