Azerbaijani oil price rises above $68 on global markets

The price of Azeri LT CIF crude rose by $1.32, or 1.97%, to $68.46 per barrel on the global market, according to market data.

June futures for Brent crude were trading at $67.64 per barrel.

At Türkiye’s Ceyhan port, the Free on Board (FOB) price for Azeri LT CIF increased by $1.30, or 1.99%, to $66.64 per barrel.

Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel.

The lowest recorded price for Azeri Light was $15.81 on April 21, 2020, while the all-time high of $149.66 was reached in July 2008.

N.Tebrizli