Price of Azerbaijani oil in global market nears $123

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $4.91, or 4.17%, to $122.7 per barrel, Report informs.

May futures for Brent crude were traded at $117.44 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 $4.83 or 5.55%, amounting to $118.78.

The average oil price in Azerbaijan's state budget for 2026 was set at $65 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.