The price of Azerbaijani oil approached $130 per barrel

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $3.81 or 3.07% - to $128.05.

As reported by BAKU.WS, this was announced by Report citing a source on the oil market.

According to the trading results, the price of May futures for Brent crude oil amounted to $123.49.

The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms (BTC FOB) increased by $3.61 or 3.07% - to $121.05 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 of 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 31.65%.