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Azerbaijani oil price has increased slightly

The price of 1 barrel of Azerbaijani oil of the "Azeri Light" brand on the world market increased by 0.27 USD, or 0.34%, to 78.42 USD.

According to the results of the auctions, the price of April futures of "Brent" brand oil amounted to 75.51 USD.

The average price of a barrel of oil in this year's state budget of Azerbaijan is calculated at 70 USD.

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