Will the Middle East support Washington’s ‘oil sanctions’ to Russia?

Will the Middle East support Washington’s ‘oil sanctions’ to Russia? Dr. Vugar Bayramov Chair of CESD, Azerbaijan www.cesd.az The price of 1 barrel of crude oil again dropped to $ 82 in the world market. The description of the market is very simple: demand is declining whereas the supply still remains high. Unlike Russia’s expectations, Saudi Arabia not only decreased oil production, but also applied for price discounts in the oil export.... Read More

Azeri Oil Price drops 15 % in the world market

Azeri Oil Price drops 15 % in the world market The cost of a barrel of BTC FOB Ceyhan on the world market made $96.59 in June. This constitutes a drop of $15.96 over May. The statement came from sources in the State Oil Company of Azerbaijan. The cost of a barrel of Brent crude on the world market made $94.84 (against $110.2 in May). Urals oil was sold for $93.49 per barrel, which is a drop of $16 over may. Azerbaijani oil transported by the BTC... Read More