The price of Azerbaijani oil has risen
The price of 1 barrel of Azerbaijani Azeri Light oil on the world market rose by $0.91, or 0.78%, and amounted to $117.74.
A source in the oil market told Report about this.
The price of November futures for Brent crude oil amounted to $116.43 per barrel.
The price of 1 barrel of Azeri Light on a FOB basis at the Turkish port of Ceyhan rose by $0.92, or 0.83%, to $111.01.
In Azerbaijan's state budget for the current year, the average price of 1 barrel of oil is calculated based on $65.
The lowest price for Azeri Light was recorded on April 21, 2020 - $15.81, and the highest - in July 2008 - $149.66.
In Azerbaijan, this brand of oil is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 35.3%.
