Price of Azerbaijani oil exceeds $109
The price of one barrel of Azerbaijani oil of the Azeri Light brand on the world market increased by $8.54 or 8.49% - to $109.1.
Report was informed about this by a source on the oil market.
At the end of trading, the price of September futures for Brent crude oil amounted to $104.92.
The price of Azerbaijani oil in the Turkish Ceyhan under FOB terms increased by $8.49 or 8.78% - to $105.18 per barrel.
In the state budget of Azerbaijan 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 block of fields "Azeri-Chirag-Gunashli" (ACG). The share of the State Oil Company (SOCAR) in the contract is 31.65%.
