Azeri oil price falls below $62 per barrel

The price of Azeri Light crude fell by $0.34, or 0.55%, to $61.83 per barrel, a market source told.

December futures for Brent crude traded at $60.57 per barrel.

At Turkey’s Ceyhan port, the FOB price of Azeri Light fell by $0.34, or 0.56%, to $59.91 per barrel.

Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel. Azeri Light hit a record low of $15.81 on April 21, 2020, and a record high of $149.66 in July 2008.