The Government of Azerbaijan proposes to raise the base price of oil laid down in the state budget for 2023 to $60 per barrel, the Ministry of Finance of the country reports. According to the information, the budget for 2023 was approved with a base oil price of $50 per barrel. “Amendments to the state budget for 2023 have been submitted to the Azerbaijani parliament. It is proposed to increase the base oil price to $60 per barrel,” the Ministry of Finance notes. In January-April 2023, the average price of Azeri Light crude oil was $85.8 per barrel, the Ministry of Finance.

Source: Turan News Agency