Azerbaijani oil price rises by about 2%

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $1.25, or 1.8%, to $70.68 per barrel, Report informs.

November futures for Brent crude were traded at $68.56 per barrel.

The price of a barrel of Azerbaijani oil of the Azeri LT CIF on Free on Board (FOB) basis at Türkiye's Ceyhan port rose by $1.21 or 1.78%, amounting to $69.15.

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.