Azerbaijan (Commerce Desk) – The price of Azerbaijan’s Azeri Light crude oil fell by $2.17, or 3 percent, in the global market, reaching $70.03 per barrel, according to oil market sources.
Trading results showed that Brent crude futures for April were recorded at $70.88 per barrel. Meanwhile, the price of Azeri Light crude on an FOB basis at Turkey’s Ceyhan port declined by $2.23, or 3.19 percent, to $67.55 per barrel.
It is noteworthy that Azerbaijan’s state budget for the current year is based on an average oil price of $65 per barrel.
