Azerbaijani oil nears $83 after sharp price surge
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The price of Azerbaijan’s Azeri Light (CIF) crude surged by $3.41—an increase of 4.3%—reaching $82.58 per barrel on global markets.
Meanwhile, August futures for Brent crude were trading at $80.44 per barrel, marking a growing premium for Azerbaijani oil, News.Az reports, citing local media.
On a Free on Board (FOB) basis at Türkiye’s Ceyhan port, the price of Azeri LT oil also rose by $3.41, or 4.38%, bringing it to $81.20 per barrel.
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.
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