Azeri Light oil price rises by over 1.6% on global markets

The price of one barrel of Azerbaijan's Azeri Light crude oil on the global market increased by $1.04, or 1.6%, reaching $65.64, a source in the oil market told Report.

According to trading results, the price of March futures for Brent crude oil stood at $62.93 per barrel.

At Türkiye's Ceyhan port, the FOB price of one barrel of Azeri Light crude rose by $1.06, or 1.69%, to $63.86.

Azerbaijan's state budget for this year is based on an average oil price of USD 65 per barrel.