The price of a barrel of Azerbaijani oil grade Azeri Light on international markets has increased by $6.56, reflecting a growth of 8.2%, and now stands at $86.16.

During trading, the price of May futures for Brent oil reached $84.87.

In the port of Ceyhan in Turkey, the price of Azerbaijani oil under FOB conditions also rose, increasing by $6.14 or 8%, and amounted to $82.93 per barrel.

The budget program of Azerbaijan for the current year has set the oil price at $65.

It is worth noting that the minimum price for Azeri Light was recorded on April 21, 2020, at $15.81, while the maximum price was observed in July 2008 at $149.66.

Oil production in Azerbaijan is mainly carried out under the agreement for the development of the Azeri-Chirag-Guneshli (ACG) oil field block, in which the share of the State Oil Company (SOCAR) is 31.65%.