Azerbaijani oil rises slightly in price
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $0.6, or 0.48%, to $124.61.
A source in the oil market told Report about this.
Following the trading session, the price of December futures for Brent crude amounted to $128.36.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms fell by $0.93, or 0.81%, to $113.81 per barrel.
Azerbaijan's state budget for this year is based on an oil price of $65.
Let us 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, Azeri Light oil is produced 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%.
