Azerbaijani Oil prices decline in Global market

The price of one barrel of "Azeri Light" oil has decreased by $0.74, or 0.97%, to $75.9, according to Azernews.

For context,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.