The price of Azerbaijani oil exceeded $108 per barrel

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $0.87 or 0.81% - to $108.18.

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

At the close of trading, the price of November futures for Brent crude oil stood at $108.68.

The price of Azerbaijani oil at Turkey's Ceyhan under FOB conditions (BTC FOB) increased by $0.76 or 0.73% - to $104.23 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 - 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%.