Azerbaijan's Azeri Light crude rises to $75.60 per barrel

The price of Azerbaijan's Azeri Light crude oil rose on international markets, climbing above the benchmark used in the country's 2026 state budget.

The price of Azeri Light crude on a CIF (cost, insurance and freight) basis increased by $1.24, or 1.67%, to $75.60 per barrel, up from the previous closing price of $74.36, Caliber.Az reports per local media. 

The latest price remains well above the $65 per barrel average assumed in Azerbaijan's 2026 state budget calculations.

Azeri Light is Azerbaijan's flagship export crude grade and is primarily produced from the Azeri-Chirag-Gunashli oil fields in the Caspian Sea.

By Sabina Mammadli