Price of Azerbaijani oil approaches $99
The price of one barrel of Azerbaijani Azeri Light oil on the world market increased by $4.82 or 5.13% to $98.73.
This was reported to Report by a source on the oil market.
Following the trading results, the price of September futures for Brent oil amounted to $92.19.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms increased by $4.82 or 5.36% to $94.81 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 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%.
