Azerbaijan’s oil price rises above $70 per barrel

The price of Azerbaijan’s Azeri Light crude increased by $0.91, or 1.31%, to $70.12 per barrel on global markets.

At Turkey’s Ceyhan port, Azeri Light traded at $68.54 per barrel on a FOB basis, up $0.85 or 1.25%.

December futures for Brent crude settled at $67.30 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, while the highest — $149.66 — was set in July 2008.