Azerbaijani oil price nears $80 amid global market gains
Photo: Azerbaijan's Energy Ministry
The global price of Azerbaijan’s flagship Azeri LT CIF oil has risen sharply, increasing by $3.79—or 5%—to reach $79.58 per barrel.
August futures for Brent crude were traded at $77.47 per barrel, News.Az reports, citing local media.
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 $3.79 or 5.09%, amounting to $78.25.
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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