Azerbaijan’s Azeri Light crude rises

The price of Azerbaijan’s Azeri Light crude on the global market rose by $0.48, or 0.72%, to $66.62 per barrel.

According to market sources, Brent crude futures for February delivery traded at $63.52 per barrel.

At Turkey’s Ceyhan port, Azeri Light crude on an FOB basis increased by $0.46, or 0.72%, to $64.53 per barrel.

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

Azeri Light is produced under the Azeri–Chirag–Gunashli offshore project, in which SOCAR holds a 31.65% stake.

N.Tebrizli