Azeri Light oil price rises to $70.54 per barrel

The price of Azerbaijan's Azeri Light crude oil on the global market increased by $1.25, or 1.8%, to $70.54 per barrel, a source in the oil market told Report.

According to trading results, the price of March futures for Brent crude stood at $67.76 per barrel.

At Türkiye's Ceyhan port, the FOB price of Azeri Light crude rose by $1.09, or 1.63%, to $68.08 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.