Price of Azerbaijani oil exceeds $131 per barrel
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $0.81, or 0.62%, and amounted to $131.62.
A source on the oil market told Report about this.
The price of December futures for Brent crude was $134.25 per barrel.
The price of one barrel of Azeri Light on an FOB basis at the Turkish port of Ceyhan rose by $0.64, or 0.53%, to $120.7.
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, oil of this brand 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%.
