Azerbaijani oil price drops by nearly $4

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $3.54, or 5.23%, to $64.11 per barrel, Report informs.

June futures for Brent crude were traded at $62.69 per barrel.

The price of a barrel of Azerbaijani oil of the Azeri LT CIF on Free on Board (FOB) basis at Türkiye's Ceyhan port fell by $3.56 or 5.39%, amounting to $62.53.

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.