Baku 21° C
Price of Azerbaijani oil exceeds $75
Energy
- 25 March, 2025
- 10:33
Add Report.az to preferred Google sources
Stay up to date with the top news!
The price of one barrel of Azerbaijani oil, Azeri Light, on the global market increased by $1.19, or 1.61%, reaching $75.23, according to Report, which cites a source in the oil market.
As of the close of trading, the price of May futures for Brent oil was $73.93.
In Azerbaijan's state budget for this year, the oil price is set at $70 per barrel.
The minimum price for Azeri Light oil was recorded on April 21, 2020, at $15.81, while the maximum price was in July 2008, at $149.66.
Oil in Azerbaijan is primarily extracted under the agreement for the development of the "Azeri-Chirag-Gunashli" (ACG) oil field block. The State Oil Company of Azerbaijan (SOCAR) holds a 31.65% stake in the contract.
Author
Latest News
10:49
Official welcome ceremony held in Baku for President of Laos
Foreign policy
10:47
Sybiha accuses Russia of attacking ships carrying Ukrainian and Azerbaijani citizens in Black Sea
Other countries
10:32
Baku airport served nearly 6 million passengers in nine months
Infrastructure
10:32
Photo
19 diplomats from 17 countries complete training program in Azerbaijan
Foreign policy
10:30
Pashinyan: Peace treaty with Baku to lay foundation for longevity of Armenian statehood
Foreign policy
10:21
Azerbaijan and Cambodia discuss implementation of ASAN Service model
Social security
10:20
Four dead, 49 injured as passenger train derails in Pakistan
Other countries
10:18
Photo
Excursions organized for participants of NATO exercise
Military
10:12
Azeri Light oil price rises to $131.62 per barrel
Energy