Price of Azerbaijani oil in global market keeps falling down

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.7, or 2.3%, to $72.36 per barrel, Report informs.

September futures for Brent crude were traded at $70.01 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 $1.75 or 2.4%, amounting to $71.11.

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.