Azerbaijani oil price approaches $97
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $1.2, or 1.26%, to $96.68.
A source in the oil market told Report about this.
Following the trading session, the price of October futures for Brent crude oil stood at $94.03.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms rose by $1.25, or 1.36%, to $93.04 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%.
