The price of 1 barrel of “Azeri Light” Azerbaijani oil on the world market increased by 1.06 US dollars, or 1%, to 102.58 US dollars.
About it “Report“a source in the oil market informed.
Brent oil October futures were sold at USD 99.34 at the auctions.
In this year’s state budget of Azerbaijan, the average price of a barrel of oil is 85 US dollars.
It should be noted that the lowest price of “Azeri Light” oil was recorded on April 21, 2020 (US$15.81), and the maximum price was recorded in July 2008 (US$149.66). In Azerbaijan, oil is mainly produced under the agreement on the development of the “Azeri-Chirag-Gunashli” (ACG) field block. The share of the State Oil Company of the Republic of Azerbaijan (SOCAR) in the agreement is 25%.