Azerbaijani oil price rises above $66 per barrel

The price of Azeri Light crude increased by $1.03, or 1.58%, to $66.24 per barrel on global markets, according to trading data.

At Turkey’s Ceyhan port (FOB basis), Azeri Light rose by $1.03 (1.63%) to $64.2 per barrel, while December futures for Brent settled at $65.37 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.