Azeri Light crude nears $69 a barrel

The price of Azerbaijan’s Azeri Light crude rose by 56 cents, or 0.82%, to $68.90 per barrel on the world market.

Brent crude futures for October delivery stood at $67.56 a barrel. At Turkey’s Ceyhan port, the price of Azeri Light FOB increased by 53 cents, or 0.79%, to $67.36.

Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel. Azeri Light hit a record low of $15.81 in April 2020 and an all-time high of $149.66 in July 2008. The crude is mainly produced from the Azeri-Chirag-Guneshli (ACG) fields, where state oil company SOCAR holds a 31.65% stake.

N.Tebrizli