The price of Azerbaijani oil exceeded $105

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $10.15 or 10.63% - to $105.58.

As reported by BAKU.WS, Report 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 $100.66.

The price of Azerbaijani oil at the Turkish port of Ceyhan under FOB terms increased by $10.23 or 11.19% - to $101.63 per barrel.

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

It should be recalled that 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, oil is mainly 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%.