Azerbaijani Oil Price Drops by $1
Azerbaijan’s Azeri LT CIF Oil Price Decreases in World Market
The price of Azerbaijan’s Azeri LT CIF oil in the world market has experienced a decrease of $1.03, or 1.43%, reaching $71.04 per barrel. This drop reflects the fluctuations in the global oil market, with May futures for Brent crude also being traded at $71.04 per barrel.
Furthermore, the price of one barrel of Azeri Light crude oil on FOB basis at Türkiye’s Ceyhan port has decreased by $0.99 or 1.36% to $71.59. These changes in oil prices have implications for various industries and economies around the world.
It is notable that the average oil price in Azerbaijan’s state budget for 2025 was set at $70 per barrel, indicating the importance of monitoring and analyzing these fluctuations. The historical data shows that the lowest price for Azeri Light was recorded on April 21, 2020, at $15.81, while the all-time high of $149.66 was fixed in July 2008.
As the global oil market continues to evolve, it is essential for stakeholders to stay informed about these price changes and their potential impacts on the industry and economy.
