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The price of Azerbaijani oil exceeded $133 per barrel
The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $8.04 or 6.42%, reaching $133.23.
As reported by BAKU.WS, this was announced by Report citing a source on the oil market.
The price of December Brent crude oil futures stood at $135.74 per barrel.
The price of one barrel of Azeri Light on an FOB basis at the Turkish port of Ceyhan increased by $7.83 or 6.83%, to $122.39.
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, oil of this grade 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%.
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