Azeri Light oil price falls by over 1% on global markets

The price of Azerbaijan's Azeri Light crude oil on the world market decreased by $0.7, or 1.09%, settling at $63.73 per barrel, a source in the oil market told Report.

According to trading results, February futures for Brent crude were priced at $61.4 per barrel.

At Türkiye's Ceyhan port, the FOB price of a barrel of Azeri Light oil declined by $0.69, or 1.11%, to $61.67.

Azerbaijan's state budget for this year is based on an average oil price of $70 per barrel.