Azerbaijani oil has become more expensive

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $1.09 or 1.62% - to $68.22.

As BAKU.WS reports, Report was informed by a source in the oil market.

At the end of trading, the price of July futures for Brent crude oil was $66.08.

The price of Azerbaijani oil in Turkish Ceyhan under FOB terms increased by $1.14 or 1.73% - to $66.93 per barrel.

In Azerbaijan's state budget for this year, the oil price is set at $70.

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 mainly produced under the agreement on the development of the Azeri-Chirag-Guneshli (ACG) block of fields. The State Oil Company's (SOCAR) share in the contract is 31.65%.