Baku, Azerbaijan, Sept. 26
By Maksim Tsurkov – Trend:
For Azerbaijan’s state oil company SOCAR, the most optimal oil prices are at the level of $60-$65 per barrel or higher, Tofig Gahramanov, SOCAR vice-president for strategic development, said in an article published in the special issue of the Iki Sahil newspaper.
He said that SOCAR’s forecast of the price corridor at the level of $40-$60 per barrel remains relevant.
“For SOCAR, today it would be optimal if oil prices were at the level of $60-$65 or higher, but considering the reality of price formation in global markets, the company takes into account all factors when developing its export strategy,” the article said.
The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $60.51 per barrel at the Italian port of Augusta on Sept. 25, or $1.39 more compared to the price on Sept. 22.
Prior to that, the cost of Azeri Light CIF oil exceeded $60 per barrel on July 13, 2015.