Azerbaijani oil price drops to $67 per barrel

The price of Azeri Light crude fell by $0.81, or 1.19%, to $67.03 per barrel on global markets, according to trading data.

At Turkey’s Ceyhan port (FOB basis), the price declined by $0.86 to $65.02 per barrel, while December futures for Brent settled at $66 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 per barrel on April 21, 2020, and the highest — $149.66 in July 2008. Azerbaijani oil is mainly produced from the Azeri–Chirag–Guneshli (ACG) block, in which SOCAR holds a 31.65% stake.