Price of Azerbaijani oil approaches $74

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $1.09 or 1.51%, to $73.61 per barrel, Report informs.

September futures for Brent crude were traded at $69.85 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 $1.12 or 1.58%, amounting to $72.33.

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.