Azeri Light crude rises above $66

The price of Azerbaijan’s Azeri Light crude rose $0.77, or 1.18%, to $66.05 per barrel, market sources told Report.

January Brent futures settled at $64.28 per barrel.

On an FOB basis at Turkey’s Ceyhan port, Azeri Light increased $0.80 (1.27%) to $63.97.

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

Azeri Light hit its historic low of $15.81 on April 21, 2020, and its record high of $149.66 in July 2008. The grade is produced at the Azeri–Chirag–Guneshli block, in which SOCAR holds a 31.65% stake.