Azerbaijani Oil Price Reaches New High

The price of Azerbaijan's Azeri LT CIF oil on the world market rose by $2.13, or 2.97%, reaching $73.64 per barrel.

September futures for Brent crude were traded at $73.56 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 grew by $2.07 or 2.94%, amounting to $72.32.

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.