Azerbaijani oil rises in price to $98.58 per barrel
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $0.39, or 0.39%, to $98.58.
A source in the oil market told Report about this.
Following the trading session, the price of September futures for Brent crude was $92.16.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms rose by $0.74, or 0.78%, to $94.86 per barrel.
Azerbaijan's state budget for this year is based on an oil price of $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%.
