Azerbaijani oil price down by $1

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.03, or 1.43%, to $71.04 per barrel, Report informs.

May futures for Brent crude were traded at $71.04 per barrel.

The price of one barrel of Azeri Light crude oil on FOB basis at Türkiye's Ceyhan port decreased by $0.99 or 1.36% to $71.59.

The average oil price in Azerbaijan's state budget for 2025 was set at $70 per barrel.

The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008.