The price of Azerbaijan’s flagship Azeri Light crude has risen by $5.14, or 4.75%, to $113.32 per barrel on the global market.

The price of Azeri Light crude at Türkiye’s Ceyhan port under FOB (BTC FOB) terms also climbed by $4.88, or 4.65%, reaching $109.87 per barrel, according to Report.

For comparison, Azerbaijan’s state budget for this year is based on an oil price of $65 per barrel.

Azeri Light recorded its lowest price of $15.81 per barrel on April 21, 2020, while its record high of $149.66 was reached in July 2008.