Azerbaijani oil price surges in global markets

Azerbaijan's Azeri LT CIF oil price has risen by $0.41, or 0.54%, reaching $76.56 per barrel in global markets, according to recent market data.

In comparison, February futures for Brent crude were traded at $74.49 per barrel, News.Az reports.

The price of Azeri Light oil is crucial for Azerbaijan's state budget, which set an average oil price of $75 per barrel for 2024. The lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, while the all-time high reached $149.66 in July 2008.

News.Az