Price of Azerbaijani oil rises by more than $1
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $1.09 or 1.14% to $96.36.
This was reported to Report by a source on the oil market.
At the close of trading, the price of August futures for Brent oil stood at $94.81.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms increased by $1.09 or 1.17% to $94.04 per barrel.
In Azerbaijan’s state budget for this year, the oil price is set at $65.
Recall that the minimum price for Azeri Light oil was recorded on April 21, 2020 ($15.81), and the maximum in July 2008 ($149.66).
In Azerbaijan, oil is produced mainly under the agreement for the development of the Azeri-Chirag-Gunashli (ACG) field block. The share of the State Oil Company (SOCAR) in the contract is 31.65%.
