The price of a barrel of Azerbaijani crude oil of the Azeri Light on the global market has increased by $0.61, or 0.61%, to $100.09.
A source in the oil market told SİA, that at the end of trading, August futures for Brent crude oil stood at $98.66 per barrel.
The price of Azerbaijani oil in Türkiye's Ceyhan terminal under FOB conditions also grew by $0.66, or 0.68%, to $97.67 per barrel.
The state budget of Azerbaijan for this year is based on an oil price of $65 per barrel.
The minimum price for Azeri Light was recorded on April 21, 2020 ($15.81), while the maximum was in July 2008 ($149.66).
Oil production in Azerbaijan is mainly carried out under the development agreement for the Azeri–Chirag–Gunashli (ACG) block. The State Oil Company of the Republic of Azerbaijan (SOCAR) holds a 31.65% stake in the contract.
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