Price of Azerbaijani oil exceeds $75
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $1.24 or 1.66% to $75.6.
A source on the oil market told Report about this.
At the close of trading, the price of August futures for Brent crude oil stood at $71.52.
The price of Azerbaijani oil in the Turkish port of Ceyhan on FOB terms increased by $1.31 or 1.82% to $73.21 per barrel.
Azerbaijan's state budget for this year assumes an oil price of $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 production sharing agreement for the Azeri-Chirag-Gunashli (ACG) block of fields. The State Oil Company of Azerbaijan Republic (SOCAR) holds a 31.65% stake in the contract.
