Azerbaijani Oil prices decline

The price of Azerbaijan's "Azeri Light" (CIF) oil has decreased in global markets, Azernews reports.

The price of one barrel of Azerbaijani oil has dropped by 2.27 USD, or 3%, reaching 73.63 USD.

It should be noted that the lowest price of "Azeri Light" oil was recorded on April 21, 2020, at $15.81 per barrel, while the maximum price was noted in July 2008, at $149.66 per barrel.

In Azerbaijan, oil is mainly produced within the framework of the agreement on the development of the "Azeri-Chirag-Gunashli" (ACG) field block, in which the State Oil Company of Azerbaijan (SOCAR) holds a 25% share.