On the global market, the price of one barrel of Azerbaijan’s Azeri Light crude oil increased by US$3.38 (4.3%), reaching US$81.29.
A source familiar with the oil market told Report about the increase.
According to the results of the trading session, the price of Brent crude oil futures for September delivery settled at US$77.32 per barrel.
At Turkey’s Ceyhan port, the price of Azeri Light crude sold on FOB terms rose by US$3.3, or 4.4%, to US$78.36 per barrel.
In Azerbaijan’s 2025 state budget, the average selling price of oil has been projected at US$65 per barrel.
It should be recalled that the lowest recorded price of Azeri Light was US$15.81 on April 21, 2020, while its highest price reached US$149.66 in July 2008.
In Azerbaijan, this type of oil is produced under the agreement on the development of the Azeri-Chirag-Gunashli (ACG) field block. Under this agreement, SOCAR holds a 31.65% stake.
https://report.az/energetika/azerbaycan-neftinin-qiymeti-3-dollardan-cox-artib