Azeri Light crude edges up to $74.70 per barrel

The price of one barrel of Azerbaijan's Azeri Light crude rose by $0.53, or 0.71%, reaching $74.70 on global markets, a source in the oil industry told Report.

At Turkey’s Ceyhan port on an FOB basis, the price increased by $0.54 (0.74%) to $73.46 per barrel.

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

The all-time low for Azeri Light was recorded at $15.81 in April 2020, while the peak reached $149.66 in July 2008.