Azerbaijani oil rises above $70 in global markets

At the same time, March futures for Brent crude were trading at around $70 per barrel.

The price of Azerbaijani Azeri Light oil on a Free on Board (FOB) basis at Türkiye’s Ceyhan port also rose. It gained $1.33, or 1.69%, to stand at $67.77 per barrel.

For reference, the average oil price assumed in Azerbaijan’s state budget for 2026 has been set at $65 per barrel.

Historically, the lowest recorded price for Azeri Light crude was $15.81 per barrel on April 21, 2020, while the all-time high of $149.66 per barrel was registered in July 2008.