Azerbaijani oil price rises 2% to $68.10

 The price of one barrel of Azerbaijani Azeri Light crude rose 2.07% to $68.10 on the global market, Report news agency said, citing a source in the oil market.

At Turkey’s Ceyhan port (FOB basis), the price increased by 2.13% to $66.57 per barrel.

Brent crude futures for October delivery settled at $68.29, according to trading results.

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

The lowest recorded price for Azeri Light was $15.81 on April 21, 2020, while the highest was $149.66 in July 2008. Most of the oil is extracted from the Azeri-Chirag-Gunashli (ACG) field. SOCAR holds a 31.65% stake in the project.