Azerbaijani oil prices drop slightly

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.26, or 0.32%, to $80.08 per barrel, Report informs.

August futures for Brent crude were traded at $77.66 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 declined by $0.24 or 0.3%, amounting to $78.72.

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.