Price of Azerbaijani oil drops by over 4%

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $2.89, or 4.17%, to $66.36 per barrel, Report informs.

December futures for Brent crude were traded at $64.74 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 fell by $2.89 or 4.27%, amounting to $64.73.

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.