Increase in Azerbaijani Oil Prices Reported
Azerbaijani Azeri LT CIF oil price rises to $78.40 per barrel
The price of Azerbaijan’s Azeri LT CIF oil in the world market has increased by $0.92, or 1.19%, reaching $78.40 per barrel. This is according to the latest reports.
On the other hand, April futures for Brent crude were traded at $76.54 per barrel. Additionally, the price of one barrel of Azeri Light crude oil on FOB basis at Türkiye’s Ceyhan port saw an increase of $0.94 or 1.73% to $77.02.
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 on April 21, 2020, at $15.81, while the all-time high of $149.66 was fixed in July 2008.
The rise in oil prices is a positive development for Azerbaijan’s economy and signals a potential boost in revenue for the country. It will be interesting to see how the oil market continues to evolve in the coming weeks and months.
