Azerbaijani oil price sees slight dip in global market
The price of Azerbaijan’s Azeri LT CIF oil in the world market has experienced a slight decrease. According to reports, the price dropped by $0.03, or 0.04%, to reach $75.68 per barrel. Meanwhile, April futures for Brent crude were being traded at $73.92 per barrel.
Additionally, the price of one barrel of Azerbaijani Azeri Light crude oil on an FOB basis at Türkiye’s Ceyhan port also saw a decrease. It went down by $0.01, or 0.01%, to $74.43 per barrel.
It is worth noting that the average oil price in Azerbaijan’s state budget for 2025 was set at $70 per barrel. The lowest price for Azeri Light was recorded back on April 21, 2020, at $15.81 per barrel. On the other hand, the all-time high price of $149.66 per barrel was observed in July 2008.
These fluctuations in oil prices in the global market can have various impacts on the economy and energy sector of Azerbaijan. Monitoring and analyzing these trends are crucial for stakeholders in the oil industry to make informed decisions.
