Azerbaijani oil rose almost $2
The price of one barrel of Azerbaijani Azeri Light crude on the world market rose by $1.82 or 1.62% — to $114.14.
This was reported to Report by a source on the oil market.
At the close of trading, the price of July futures for Brent crude stood at $111.71.
The price of Azerbaijani oil at Turkey’s Ceyhan terminal on FOB terms rose by $1.85 or 1.68% — to $111.82 per barrel.
Azerbaijan’s state budget for this year is based on an oil price of $65.
Recall that the lowest price for Azeri Light crude was recorded on April 21, 2020 ($15.81), and the highest — in July 2008 ($149.66).
In Azerbaijan, Azeri Light crude is produced under the development agreement for the Azeri-Chirag-Gunashli (ACG) block of fields. The State Oil Company (SOCAR) holds a 31.65% stake in the contract.
