Price of Azerbaijani oil approaches $89 per barrel
The price of one barrel of Azerbaijani Azeri Light crude on the world market rose by $1.99 or 2.29% to $88.82.
This was reported to Report by a source on the oil market.
As a result of trading, the price of September futures for Brent crude amounted to $82.88.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms (BTC FOB) rose by $1.78 or 2.13% to $84.96 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 of this grade is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) field block. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 31.65%.
