The price of Azerbaijani oil rose by nearly $3

The price of one barrel of Azerbaijani Azeri Light crude oil on the world market increased by $2.72 or 2.67% - to $104.4.

Report was informed about this by a source on the oil market.

At the end of trading, the price of August Brent crude oil futures stood at $101.24.

The price of Azerbaijani oil at Turkey's Ceyhan under FOB terms increased by $2.72 or 2.74% - to $101.98 per barrel.

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

It should be recalled that the minimum price for Azeri Light oil 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 on 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%.