Azerbaijani Oil Price Rises Close to $79 in Global Markets

The price of Azerbaijan's Azeri LT CIF oil increased by $0.42, or 0.54%, reaching $78.71 per barrel in global markets.

Meanwhile, June futures for Brent crude traded at $77.68 per barrel, The Caspian Post reports citing Report.

Azeri oil priced on a Free on Board (FOB) basis at Turkey’s Ceyhan port increased by $0.45, or 0.59%, to $76.91 per barrel.

For Azerbaijan’s 2025 state budget, the average oil price is set at $70 per barrel. The lowest recorded price for Azeri Light was $15.81 on April 21, 2020, while the highest ever price reached $149.66 in July 2008.