Azeri oil hits 28-month high
BAKU – The price of Azerbaijani oil has hit a 28-month high of over $100 a barrel. Azeri Light crude was selling for $100.17 in world markets at the weekend, the state oil firm SOCAR said.
A record price level was last reported in September 2008 when the South Caucasus republic’s oil was selling for $103.
Azerbaijan produces most of its oil from the major Azeri-Chirag-Gunashli fields in the Caspian Sea. The Baku-Tbilisi-Ceyhan (BTC) main export pipeline is transporting ACG oil.
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