Azerbaijan's Azeri Light Oil Price Surges Above $125 Per Barrel

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Azerbaijan's Azeri Light Oil Price Surges Above $125 Per Barrel

The price of Azerbaijan’s Azeri Light crude oil has risen on global markets, exceeding $125 per barrel.

The price of one barrel of Azeri Light (CIF) increased by $4.51, or 3.74%, to $125.19, according to APA.

The previous price stood at $120.68 per barrel.

Meanwhile, Azerbaijan’s state budget for the current year is based on an average Azeri Light price of $65 per barrel, meaning the latest market price is significantly above the budget benchmark.

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Azerbaijan's Azeri Light Oil Price Surges Above $125 Per Barrel

The price of Azerbaijan’s Azeri Light crude oil has risen on global markets, exceeding $125 per barrel.