Azerbaijani oil prices decline

The price of Azeri LT CIF Augusta decreased by $1,37 amounting or 1,60% to $83,98 per barrel on December 22, Azernews reports.

Moreover, the price of Azeri LT FOB Ceyhan dropped by $2.3, as compared to the previous price, and amounted to $80,06 per barrel.

Azerbaijan calculated the average price of one barrel of oil from 60 US dollars for the state budget in 2023.

It should be noted that the lowest price of Azeri Light oil was recorded on April 21, 2020 (US$15.81), and the maximum price was recorded in July 2008 (US$149.66). In addition, the average price of Azeri Light was $103.58.