Price of Azerbaijani oil exceeds $100
The price of one barrel of Azerbaijani oil of the Azeri Light grade on the world market rose by $1.83 or 1.85% to $100.56.
A source on the oil market told Report this.
Following the trading results, the price of September futures for Brent oil amounted to $94.17.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms rose by $1.88 or 1.98% to $96.69 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 mainly extracted 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%.
