The price of Azerbaijani oil rose by $7
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $6.97, or 7.64%, to $98.19.
A source in the oil market told Report about this.
Following the trading session, the price of September futures for Brent oil stood at $91.2.
The price of Azerbaijani oil in the Turkish port of Ceyhan on FOB terms rose by $7.23, or 8.32%, to $94.12 per barrel.
Azerbaijan's state budget for this year is based on an oil price of $65.
It should be recalled 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%.
