Price of Azerbaijani oil slightly improves

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $0.37, or 0.51%, to $72.49 per barrel, Report informs.

August futures for Brent crude were traded at $69.23 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 up by $0.37 or 0.52%, amounting to $71.17.

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.