Azerbaijani oil has risen in price by almost $5

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $4.51 or 3.74% - to $125.19.

As reported by BAKU.WS, Report was informed by a source on the oil market.

At the close of trading, the price of December Brent crude oil futures amounted to $129.09.

The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms decreased by $4.68 or 4.25% - to $114.56 per barrel.

In Azerbaijan's state budget for this year, the oil price is set at the level of $65.

As a reminder, the minimum price for Azeri Light crude was recorded on April 21, 2020 ($15.81), and the maximum - in July 2008 ($149.66).

In Azerbaijan, Azeri Light crude oil is produced under the agreement for 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%.