The price of Azeri Light crude oil reached 109.19 US dollars

On the world market, the price of one barrel of Azerbaijani Azeri Light crude oil rose by 0.09 US dollars, or 0.08%, reaching the mark of 109.19 US dollars.

As reported by BAKU.WS, based on trading results, May futures for Brent crude oil were sold at a price of 103.7 US dollars.

At the Turkish port of Ceyhan, on FOB terms, the price of one barrel of Azeri Light oil increased by 0.07 US dollars, or 0.06%, amounting to 105.31 US dollars.

It is worth noting that in Azerbaijan's state budget for the current year, the average price of one barrel of oil is set at 65 US dollars — nearly half of the current quotes. The historic low for "Azeri Light" oil was recorded on April 21, 2020 — 15.81 US dollars, while the historic high occurred in July 2008, when a barrel cost 149.66 US dollars.

This oil is extracted at the "Azeri-Chirag-Gunashli" (ACG) block of fields, with the State Oil Company of Azerbaijan (SOCAR) holding a 31.65% share in the contract.