The price of Azerbaijani oil exceeded 88 dollars

The price of Azerbaijani oil exceeded 88 dollars
The price of 1 barrel of "Azeri Light" brand oil on the world market increased by 0.65 US dollars or 0.69% to 88.08 US dollars.

A source in the oil market informed Qazet.az reports about this.

At the auctions, the February futures of Brent oil were sold for 83.46 US dollars.

In this year's state budget of Azerbaijan, the average price of one barrel of oil was taken from 85 US dollars.

It should be noted that the lowest price of "Azeri Light" oil was recorded on April 21, 2020 (US$15.81), and the maximum price was recorded in July 2008 (US$149.66). In Azerbaijan, oil is mainly produced within the framework of the agreement on the development of the "Azeri-Chirag-Gunashli" (ACG) field block. The share of the State Oil Company of the Republic of Azerbaijan (SOCAR) in the agreement is 25%.