Azerbaijani Oil Price Drops

The price of Azerbaijan's Azeri LT CIF oil on the global market dropped by $0.53, or 0.78%, reaching $67.45 per barrel.

October futures for Brent crude were traded at $67.58 per barrel, The Caspian Post reports.

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 $0.55 or 0.83%, amounting to $65.89.

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.