Azerbaijan sold oil for $ 100 expensive on average in 2022
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In 2022, 1 barrel of Azerbaijani "Azeri Light" oil was sold on the world market at an average of 103.6 US dollars.
This is stated in the "Annual report on the execution of the state budget for 2022".
According to the document, this is up by 44.7% from the average price in 2021 and up by 21.8% from an index taken as the basis for the revision of the state budget for 2022.
"Amid the uncertainty prevailing in the global economy and commodity markets, oil and natural gas prices exceeded forecasts. High energy prices were mainly due to the emergence of military clashes between Russia and Ukraine, the imposition of sanctions, export and price restrictions due to the conflict, as well as the achievement of an agreement between OPEC+ countries to reduce the level of oil production," the report notes.
Source: Turan News Agency