Azerbaijan’s Azeri Light Crude Rises to $68.70 per Barrel, Up 1.01%

The price of Azerbaijan’s Azeri Light crude oil rose by $0.39, or 1.01 per cent, reaching $68.70 per barrel.

Azeri Light has experienced significant fluctuations in recent years, with its lowest recorded price at $15.81 per barrel on April 21, 2020, and its highest at $149.66 per barrel in July 2008, The Caspian Post reports via local media.

Azeri Light is a high-quality, sweet crude oil produced in Azerbaijan, primarily from the Azeri-Chirag-Gunashli (ACG) oil field in the Caspian Sea. Known for its relatively low sulfur content and light density, it is highly valued in international markets for refining into gasoline and diesel. Azeri Light is exported via the Baku-Tbilisi-Ceyhan (BTC) pipeline to global markets, making it a significant contributor to Azerbaijan’s economy.