The price of Azerbaijani oil exceeded $131 per barrel

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $0.81 or 0.62%, reaching $131.62.

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

The price of December futures for Brent crude oil was $134.25 per barrel.

The price of one barrel of Azeri Light on an FOB basis at the Turkish port of Ceyhan increased by $0.64 or 0.53%, to $120.7.

In Azerbaijan's state budget for the current year, the average price of 1 barrel of oil is calculated based on $65.

The lowest price for Azeri Light was recorded on April 21, 2020 – $15.81, and the highest – in July 2008 – $149.66.

In Azerbaijan, this grade of oil is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 35.3%.