Azeri Light price jumps
Oil prices continue to show volatility on the world markets, with a barrel of Azeri Light crude trading for $50.16.
The cost of the US Light crude oil decreased $0.8 to stand at $46.08 on NYMEX (New York Mercantile Exchange). Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) fell $0.06 to trade at $48.67.
Azerbaijan continues to fulfill its obligations on oil production reduction by 35,000 barrels per day under the output cut deal.
Daily oil production in Azerbaijan amounted to 793,700 barrels in June, 55,000 barrels of which fell on condensate. Every day 624,100 barrels of oil, 55,000 barrels of condensate and 21,400 barrels of oil products were exported.
The country produced 793,900 barrels of oil per day in January 2017, 776,400 barrels per day – in February, 733,300 barrels per day – in March and 781,100 barrels per day – in April, 785,300 barrels per a day – in May.
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