Azerbaijani oil price in global market nears $73

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $2.52, or 3.58%, to $72.89 per barrel, Report informs.

March futures for Brent crude were traded at $72.36 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 rose by $2.54 or 3.75%, amounting to $70.31.

The average oil price in Azerbaijan's state budget for 2026 was set at $65 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.