Azerbaijani oil price drops below $78

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.34, or 1.7%, to $77.64 per barrel, Report informs.

April futures for Brent crude were traded at $75.85 per barrel.

The price of one barrel of Azeri Light crude oil on FOB basis at Türkiye's Ceyhan port increased by $1.03 or 1.35% to $77.54.

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.