Price of Azerbaijani oil approaches $74
The price of one barrel of Azerbaijani Azeri Light crude on the world market rose by $0.78 or 1.07% to $73.71.
This was reported to Report by a source on the oil market.
Following the trading session, the price of September futures for Brent crude stood at $69.88.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms rose by $0.67 or 0.95% to $71.15 per barrel.
The Azerbaijani state budget for this year assumes an oil price of $65.
It should be recalled 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%.
