Commodities
Azeri Light Oil Price Plunges Below $92 Per Barrel
The price of Azerbaijan's Azeri Light crude oil has dropped to $91.93 per barrel, according to a recent report.
This represents a decline of $3.20, or 3.36%, from its previous value and is in line with the current market trends.
As of October delivery, Brent crude futures stood at $89 per barrel, while at Türkiye's Ceyhan port, the FOB price of Azeri Light had declined by $3.12 to $88.50 per barrel.
The State Oil Company of Azerbaijan (SOCAR) holds a 35.3% stake in the contract for the development of the Azeri-Chirag-Gunashli field block, which produces the Azeri Light oil.