Azerbaijani oil price drops below $70

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.72, or 1.02%, to $69.53 per barrel, Report informs.

November futures for Brent crude were traded at $66.95 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 $0.72 or 1.05%, amounting to $67.99.

The average oil price in Azerbaijan's state budget for 2025 was set at $70 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.