The average price of Azerbaijani oil on the terms of CIF delivery (the selling price includes the cost of goods, freight or transportation costs, as well as the cost of insurance during transportation) in the first half of 2020 amounted to $ 42.75 per barrel.
According to the official representative of SOCAR, Ibrahim Ahmedov, for the same period in 2019, the average price of Azerbaijani oil amounted to $ 68 per barrel.
That is, for the first half of 2020, the price decreased by 37.13%.
SOCAR previously reported that in Q1 2020, the average price of Azeri Light on the terms of CIF delivery amounted to $ 53.07 per barrel.
It should be noted that in 2019, the average price of Azerbaijani light oil of the Azeri Light brand on terms of CIF delivery amounted to $ 66.79 per barrel.