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Azerbaijani oil rose in price by nearly $6
The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $5.61 or 6.82% - to $87.90.
BAKU.WS was informed by a source on the oil market.
At the close of trading, the price of May futures for Brent crude oil stood at $87.71.
The price of Azerbaijani oil at the Turkish port of Ceyhan under FOB terms increased by $5.34 or 6.82% - to $83.69 per barrel.
In Azerbaijan's state budget for this year, the oil price is set at $65.
It should be noted 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-Gunashli (ACG) block of fields. The share of the State Oil Company (SOCAR) in the contract is 31.65%.
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