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Azeri Light is trading above the $105 per barrel mark
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The price of one barrel of Azerbaijani Azeri Light crude oil on the world market decreased by $3.44 or 3.16% compared to the previous day, reaching $105.5.
As reported by BAKU.WS, Report was informed by a source on the oil market.
At the close of trading, the price of July Brent crude oil futures stood at $100.59.
The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms (BTC FOB) decreased by $3.42 or 3.23%, reaching $102.49 per barrel.
In Azerbaijan's state budget for this year, the oil price is set at $65.
As a reminder, the minimum price for Azeri Light crude was recorded on April 21, 2020 ($15.81), and the maximum was 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 31.65%.
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