The price of one barrel of Azerbaijan’s Azeri Light crude fell by 5.88 US dollars, or 4.59 %, on the world market to 122.15 US dollars.
A source in the oil market told Operative Information Center-OMM.
According to trading results, the price of November futures for Brent crude stood at 126.46 US dollars per barrel.
On a free-on-board (FOB) basis at Türkiye’s Ceyhan port, one barrel of Azerbaijan’s Azeri Light crude declined by 5.83 US dollars, or 4.76 %, to 116.62 US dollars.
Azerbaijan’s state budget for this year is based on an average oil price of 65 US dollars per barrel.
Azeri Light is Azerbaijan’s flagship crude grade, while Brent is one of the main international benchmarks used to assess global oil prices. The difference between the prices reflects, among other factors, the delivery basis and location of the transaction.
