Azerbaijani oil rises in price by more than $2
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $2.33, or 2.56%, to $93.37.
A source in the oil market told Report about this.
Following the trading session, the price of September futures for Brent crude amounted to $87.6.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms rose by $2.41, or 2.74%, to $90.3 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 35.3%.
