Price of Azerbaijani oil rises by over $3

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $3.21, or 4.68%, to $71.75 per barrel, Report informs.

March futures for Brent crude were traded at $68.57 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 rose by $3.19 or 4.8%, amounting to $69.62.

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.