Price of Azerbaijani oil approaches $94
The price of one barrel of Azerbaijani oil of the Azeri Light brand on the world market increased by $2.41 or 2.63% - to $93.91.
A source in the oil market told Report about this.
Following the trading results, the price of September futures for Brent oil amounted to $87.01.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms increased by $2.42 or 2.76% - to $89.99 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 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%.
