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The price of Azeri Light approached $107
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The price of one barrel of Azerbaijani Azeri Light crude oil on the world market rose by $0.03 or 0.03% - to $106.84.
As BAKU.WS reports, this was reported by Report citing a source on the oil market.
At the close of trading, the price of January Brent crude oil futures stood at $95.98.
At the Turkish port of Ceyhan, the price per barrel of Azerbaijani Azeri Light crude oil on an FOB basis rose by $1.7 or 1.7%, amounting to $101.6.
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 produced mainly 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%.
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