Azeri Light crude rises to $95.16 per barrel

The price of Azerbaijan's Azeri Light crude oil rose by $1.23, or 1.3%, to $95.16 per barrel on the world market.

According to trading results, the price of Brent crude oil futures for September delivery stood at $91.92 per barrel.

At the FOB basis at Türkiye's Ceyhan port, the price of one barrel of Azeri Light increased by $1.37, or 1.5%, to $92.32.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.

The lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, while its highest price of $149.66 was recorded in July 2008.

Azeri Light is produced in Azerbaijan as part of the development of the Azeri-Chirag-Gunashli (ACG) field block. Under the production-sharing agreement, the State Oil Company of the Republic of Azerbaijan (SOCAR) holds a 35.3% stake.

Stabil.Az