Azeri Light crude rises to $64.25 per barrel

The price of Azerbaijan's Azeri Light crude oil rose on the global market, increasing by $0.38, or 0.59%, to $64.25 per barrel, a source in the oil market told Report.

According to auction results, February futures for Brent crude were priced at $61.17 per barrel.

Meanwhile, at Türkiye's Ceyhan port, the FOB price of Azeri Light crude increased by $0.38, or 0.61%, reaching $62.15 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $70 per barrel.