BAKU, Azerbaijan, June 28. The oil prices will be set at $85 per barrel following the recent amendments to Azerbaijan's state budget for 2022, the country's Minister of Finance Samir Sharifov said, while discussing changes to the state budget at the Azerbaijani Parliament's extraordinary meeting, on June 28, Trend reports.
According to him, these oil prices are currently considered affordable.
"Given risks, it has been proposed to reduce the price of oil in the state budget to $75. From January through May 2022, the average export price of Azeri Light crude oil one barrel was $106.3. Considering the funding received within five months, and the funds to be received over the next seven months, it's more reasonable to take the average price of oil at $85 per barrel," Sharifov said.