Azeri oil price rises to $78.71 per barrel

The price of Azerbaijan's Azeri LT CIF crude oil increased by $0.42, or 0.54%, reaching $78.71 per barrel on the global market, Report informs.

Brent crude futures for June were trading at $77.68 per barrel.

Meanwhile, the price of Azeri LT CIF crude on a Free on Board (FOB) basis at Türkiye’s Ceyhan port rose by $0.45, or 0.59%, to $76.91 per barrel.

Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.

The lowest price for Azeri Light was recorded on April 21, 2020, at $15.81, while the record high of $149.66 was reached in July 2008.