The price of Azerbaijani Azeri Light crude oil fell by $0.07, or 0.07%, on the global market to $95.5 per barrel, a source in the oil market told Report.
According to trading results, September futures for Brent crude stood at $93.56 per barrel.
The price of a barrel of Azerbaijani Azeri Light crude on an FOB basis at Türkiye's Ceyhan port decreased by $0.06, or 0.06%, to $92.69.
Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.
The lowest price for Azeri Light was recorded on April 21, 2020, at $15.81 per barrel, while its highest price was registered in July 2008, at $149.66.
Azeri Light is produced in Azerbaijan under the agreement on the development of the Azeri-Chirag-Gunashli, or ACG, block of fields. The State Oil Company of Azerbaijan, SOCAR, holds a 35.3% stake in the contract.