Price of Azerbaijani oil rises above $73 per barrel
13.06.2025 12:00
The price of Azerbaijani oil benchmark Azeri Light rose by $1.28, or 1.77%, to $73.45 per barrel on global markets, a market source told Report.
On an FOB basis at Turkey’s Ceyhan port, Azeri Light was priced at $72.20 per barrel, up $1.25, or 1.76%.
August futures for Brent crude were trading at $70.85 per barrel.
Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel, making current market prices higher than forecast.
Azeri Light reached its all-time low of $15.81 on April 21, 2020, and peaked at $149.66 in July 2008.
Most of Azerbaijan’s crude is produced under the Azeri–Chirag–Gunashli (ACG) block development agreement, in which state oil company SOCAR holds a 31.65% stake.
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