Price of Azerbaijani oil nears $72

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $1.06, or 1.5%, to $71.85 per barrel, Report informs.

August futures for Brent crude were traded at $69.60 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 grew by $1.1 or 1.58%, amounting to $70.60.

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.