The price of Azerbaijani oil exceeded $93

The price of one barrel of Azeri Light oil on the world market increased by $2.07, or 2.3%, to $93.5.

On exchanges, Brent oil is trading at $88.55 per barrel.

In the state budget of Azerbaijan for this year, the price of oil is set at 60 US dollars.

Recall that the minimum price for Azeri Light oil was recorded on April 21, 2020 ($15.81), and the maximum price in July 2008 ($149.66).

Oil is produced in Azerbaijan mainly within the framework of the agreement on the development of the Azeri-Chirag-Guneshli (ACG) block of fields. The share of the State Oil Company (SOCAR) in the contract is 25%.

source: report.az