Baku – July 15, 2025
The price of Azerbaijan’s flagship crude oil, Azeri Light, declined by $1.53 (2.02%) on global markets, closing at $74.06 per barrel.
According to industry sources, the price of September futures for Brent crude also dropped, settling at $71.46 per barrel by the end of trading.
Meanwhile, the FOB price for Azeri Light shipped through Turkey’s Ceyhan Port fell by $1.51, or 2.03%, landing at $72.86 per barrel.
For 2025, Azerbaijan’s state budget is based on an oil price of $70 per barrel, meaning current prices still hover above the fiscal benchmark.
Azeri Light’s lowest-ever price was recorded on April 21, 2020, at $15.81 per barrel, while its all-time high reached $149.66 in July 2008.
Azerbaijan’s oil production is largely tied to the “Azeri-Chirag-Gunashli” (ACG) field complex, operated under a long-term development agreement. The State Oil Company of Azerbaijan Republic (SOCAR) holds a 31.65% stake in the ACG contract.
