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The price of Azerbaijan’s Azeri LT CIF oil increased by $0.42, or 0.54%, reaching $78.71 per barrel on global markets.
At the same time, June futures for Brent crude were trading at $77.68 per barrel, according to reports from News.Az.
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Azeri oil, priced on a Free on Board (FOB) basis at Turkey’s Ceyhan port, saw a rise of $0.45, or 0.59%, bringing the price to $76.91 per barrel.
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Azerbaijan’s 2025 state budget sets the average oil price at $70 per barrel. The lowest price ever recorded for Azeri Light was $15.81 on April 21, 2020, while its highest ever price reached $149.66 in July 2008.
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