Azerbaijani oil price rising

The price of Azeri Light crude oil went up $ 0.65 or 1.55% to $ 42.65 a barrel.

Azeri LT CIF showed the record low on April 21, 2020 ($15.81), and the all-time high in July 2008 ($149.66). 

Notably, Brent is set to end June with a third consecutive monthly gain after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, extended its 9.7 million barrels-per-day (BPD) supply cut agreement into July.

"OPEC+ supply cuts have been helping keep the oil price afloat. After the stellar nearly 90 percent compliance in May, in the next few days, we will be getting data clues on June compliance," said Louise Dickson, Rystad Energy's oil markets analyst.