Price of Azerbaijani oil surpasses $70

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $0.92, or 1.3%, to $70.16 per barrel, Report informs.

August futures for Brent crude were traded at $68.11 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 $0.91 or 1.3%, amounting to $68.84.

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.