Price of Azerbaijani oil approaches $87
The price of one barrel of Azerbaijani oil of the Azeri Light grade on the world market rose by $5.22 or 6.42% - to $86.51.
This was reported to 1news.az by a source on the oil market.
At the end of trading, the price of September futures for Brent crude oil was $82.56.
The price of Azerbaijani oil in the Turkish port of Ceyhan on FOB terms rose by $4.79 or 6.11% - to $83.15 per barrel.
The Azerbaijani state budget for this year is based on 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 on 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%.
