Azeri Light crude drops over 4% to $70.65 per barrel

The price of one barrel of Azerbaijan's Azeri Light crude has dropped by $3.11, or 4.22%, settling at $70.65 on the global market, citing industry sources.

According to trading data, Brent crude futures for November delivery were priced at $68.85 per barrel.

At Türkiye's Ceyhan port, the FOB price of Azeri Light also fell by $3.13, or 4.33%, to $69.11 per barrel.

For reference, Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.