Price of Azerbaijani oil drops by over 1%

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.83, or 1.18%, to $69.25 per barrel, Report informs.

December futures for Brent crude were traded at $67.66 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 fell by $0.82 or 1.2%, amounting to $67.62.

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.