Azeri oil price approaches $80 in global market

The price of Azerbaijan's Azeri LT CIF oil has risen by $1.05, or 1.33%, reaching $79.77 per barrel on the global market.

In contrast, March futures for Brent crude were trading at $77.19 per barrel, News.Az reports.

For Azerbaijan's 2025 state budget, the average oil price has been set at $70 per barrel.

Azeri Light oil has seen significant fluctuations, with its lowest recorded price at $15.81 per barrel on April 21, 2020, and its highest all-time price at $149.66 per barrel in July 2008.

News.Az