Baku 23° 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
17:29
Azerbaijan's gasoline and diesel retail sales rise 4% in January-September
Energy
17:26
Baku urges citizens to avoid dangerous Black Sea routes after ship attack
Foreign policy
17:25
Kyrgyz President Sadyr Japarov to visit Azerbaijan on October 14
Foreign policy
17:18
MFA: All eight Azerbaijani nationals aboard drone-attacked ship in Black Sea rescued
Other countries
17:14
Expert says school uniforms in Azerbaijan promote equality, discipline and responsibility
Education and science
17:03
Azerbaijan fell short of its OPEC+ quota by 103,000 bpd in August
Energy
17:02
OPEC: Oil exports via BTC pipeline rise 8% in August
Energy
16:56
Azerbaijan's mobile communication services reach 987.1 million manats
ICT
16:54
Ukrainian FM invites Armenian counterpart to visit Kyiv
Other countries