Azerbaijan’s Azeri Light crude falls 1.6% to $93.97 per barrel

The price of Azerbaijan’s Azeri Light crude oil fell 1.6% to $93.97 per barrel following trading results, according to a source in the oil market.

The price declined by $1.53 from the previous level, according to domestic media.

Meanwhile, September Brent crude futures stood at $92.73 per barrel.

On a free-on-board (FOB) basis at Türkiye’s Ceyhan port, Azeri Light fell by $1.69, or 1.82%, to $91 per barrel.

Azerbaijan’s state budget for 2026 is based on an average oil price of $65 per barrel.

Azeri Light is produced from the Azeri-Chirag-Gunashli (ACG) field block. Azerbaijan’s state oil company SOCAR holds a 35.3% stake in the production-sharing agreement.

The crude’s record low price was $15.81 per barrel, recorded on April 21, 2020, while its record high of $149.66 was reached in July 2008.

By Sabina Mammadli