Azeri Light oil price falls to $71.46 per barrel

The price of Azerbaijan's Azeri Light crude oil decreased by $0.51, or 0.71%, to $71.46 per barrel on the global market.

A source in the oil market told Report that, following trading results, the price of April futures for Brent crude stood at $70.79 per barrel.

At the FOB basis in the Turkish port of Ceyhan, the price of Azeri Light crude fell by $0.43, or 0.62%, to $68.93 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.