Azerbaijani oil rises slightly in price
The price of one barrel of Azerbaijan's Azeri Light oil on the global market rose by $0.56, or 0.6%, to $93.93.
A source in the oil market told Report about this.
At the close of trading, the price of September futures for Brent crude was $89.19.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms rose by $0.65, or 0.72%, to $90.95.
Azerbaijan's state budget for this year is based on an oil price of $65 per barrel.
To recall, 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%.
