Azeri Light crude falls to $66.50 per barrel

The price of Azeri Light crude fell by $0.04, or 0.06%, to $66.50 per barrel on global markets, according to market sources.

February futures for Brent crude traded at $64.36. At Turkey’s Ceyhan port, Azeri Light traded on a FOB basis at $64.51 per barrel, down $0.03 or 0.05%.

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

Azeri Light hit its all-time low of $15.81 on April 21, 2020, and its record high of $149.66 in July 2008. The grade is produced from the Azeri–Chirag–Guneshli fields, where SOCAR holds a 31.65% stake.