Azeri Light oil price rises above $69

The price of Azeri Light crude increased by $0.58, or 0.84%, to $69.48 per barrel on the global market.

October futures for Brent crude closed at $68.13. The price of Azeri Light at Turkey’s Ceyhan port under FOB terms rose by $0.58, or 0.86%, to $67.94 per barrel.

Azerbaijan’s 2025 state budget assumes an oil price of $70 per barrel. The minimum price for Azeri Light was recorded on April 21, 2020, at $15.81, and the maximum in July 2008 at $149.66.

Most oil in Azerbaijan is produced under the Azeri-Chirag-Gunashli (ACG) block development agreement, where state oil company SOCAR holds a 31.65% stake.

N.Tebrizli