Azerbaijan’s Azeri Light crude oil edges lower to $95.50

The price of Azerbaijan’s Azeri Light crude edged down by $0.07, or 0.07%, to $95.50 a barrel on the global market, according to a source in the oil market cited by local media.

September Brent futures settled at $93.56 a barrel.

At Türkiye’s Ceyhan port, the FOB price of Azerbaijani crude fell by $0.06, or 0.06%, to $92.69 a barrel.

Azerbaijan’s state budget for 2026 assumes an oil price of $65 a barrel.

Azeri Light reached a record low of $15.81 on April 21st 2020 and a record high of $149.66 in July 2008.

Azerbaijan produces most of its oil under the agreement governing the development of the Azeri-Chirag-Gunashli (ACG) field block. SOCAR, the state oil company, holds a 35.3% stake in the project.

By Aghakazim Guliyev