The price of a barrel of Azeri Light crude oil on the world market has increased by $1.83, or 1.85%, reaching $100.56.
This information was provided to the Operative Information Center-OMM by a source within the oil market.
According to the trading results, the price of September futures for Brent crude oil stood at $94.17. Meanwhile, at the Ceyhan port in Turkey, the price of a barrel of Azeri Light crude oil on an FOB basis rose by $1.88, or 1.98%, to $96.69.
For context, the state budget of Azerbaijan for the current year was calculated based on an average oil price of $65 per barrel. The significant rise in global oil prices directly impacts the national economy, as energy exports remain a cornerstone of Azerbaijan's fiscal policy.
Historically, the lowest price for Azeri Light oil was recorded on April 21, 2020, at $15.81, while the maximum price reached $149.66 in July 2008. This grade of oil is produced within the framework of the contract for the development of the Azeri-Chirag-Gunashli (ACG) field block, in which the State Oil Company of Azerbaijan Republic (SOCAR) holds a 31.65% stake.
