Azerbaijani oil price falls below $74

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.81, or 1.09%, to $73.21 per barrel, Report informs.

May futures for Brent crude were traded at $71.39 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 $0.84 or 1.15%, amounting to $71.90.

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.