Azeri Light crude price falls below $131 per barrel

The price of Azerbaijan's Azeri Light crude oil declined on global markets, falling by $1.56, or 1.19%, to $130.79 per barrel, a market source told Report.

According to trading results, the price of Brent crude futures for June delivery stood at $128.46 per barrel.

At Türkiye's Ceyhan port, the FOB price of Azeri Light decreased by $1.47, or 1.18%, to $124.08 per barrel.

Meanwhile, Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel, significantly lower than current market levels.