Azeri Light crude drops to $64.12 per barrel

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.59, or 2.4%, to $64.12 per barrel, Report informs.

March futures for Brent crude were traded at $60.98 per barrel.

The price of a barrel of Azerbaijani oil of the Azeri LT CIF on Free on Board (FOB) basis at Türkiye's Ceyhan port fell by $1.64 or 2.6%, amounting to $62.28.

The average oil price in Azerbaijan's state budget for 2026 was set at $65 per barrel.

The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008.