Azerbaijan’s crude falls in price

The price of Azerbaijan’s Azeri Light crude on the world market fell by $0.46, or 0.67%, to $68.13 per barrel, market sources said.

At Turkey’s Ceyhan port, the FOB price dropped by $0.47 to $66.61 per barrel. By comparison, October futures for Brent crude stood at $67.35 per barrel.

Azerbaijan’s 2025 state budget 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, and the highest in July 2008 at $149.66. The crude is mainly produced from the Azeri-Chirag-Guneshli (ACG) block of fields, in which SOCAR holds a 31.65% stake.