Price of Azerbaijani oil drops slightly

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $2.24, or 2.71%, to $80.34 per barrel, Report informs.

August futures for Brent crude were traded at $78.21 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 went down by $2.24 or 2.76%, amounting to $78.96.

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.