Azeri Light crude drops to $63.15 per barrel on world market

The price of one barrel of Azeri Light crude oil has decreased by $1.11, or 1.73%, settling at $63.15 on the global market, according to sources in the oil industry, Report informs.

Meanwhile, Brent crude December futures were priced at $61.78 per barrel following trading results.

At Türkiye's Ceyhan port, the FOB price for a barrel of Azeri Light also dropped - down by $1.14, or 1.82%, to $61.41.

For comparison, Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.