Price of Azerbaijani oil rises by 8.5%
The price of one barrel of Azerbaijani Azeri Light crude on the world market rose by $6.41 or 8.47% to $82.07.
This was reported to Report by a source on the oil market.
At the close of trading, the price of September futures for Brent crude stood at $78.36.
The price of Azerbaijani oil in the Turkish port of Ceyhan on FOB terms rose by $6.47 or 8.87% to $79.41 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) block of fields. The share of the State Oil Company (SOCAR) in the contract is 31.65%.
