Azerbaijani oil price rises on global markets
Photo: AZERTAC
Azerbaijan’s benchmark crude oil has recorded a price increase on the global market.
The price of a barrel of Azeri Light crude rose by $0.51, or 0.74%, reaching $69.39 per barrel. The uptick reflects ongoing movements in international energy markets, News.Az reports, citing AZERTAC.
For context, Azeri Light saw its lowest recorded price on April 21, 2020, when it dropped to $15.81 per barrel. Its highest price was registered in July 2008 at $149.66 per barrel.
The latest increase highlights renewed upward momentum in Azerbaijan’s key export commodity amid shifting global oil demand and supply dynamics.
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