Azerbaijan’s Azeri Light oil price falls 1.5% to $92.55 per barrel

The price of Azerbaijan’s Azeri Light crude oil fell by $1.42, or 1.51%, to $92.55 per barrel on the world market, according to an oil market source cited by Report.

Meanwhile, October futures for Brent crude were trading at $92.06 per barrel, Caliber.Az reports via local media.

On a free-on-board (FOB) basis at Türkiye’s Ceyhan port, the price of Azeri Light declined by $1.64, or 1.8%, to $89.36 per barrel.

Azerbaijan’s state budget for 2026 is based on an average oil price of $65 per barrel, putting the current Azeri Light price significantly above the budget benchmark.

Azeri Light is produced from the Azeri-Chirag-Gunashli (ACG) oil field complex, one of Azerbaijan’s main hydrocarbon assets. Under the production-sharing agreement for the project, Azerbaijan’s state oil company SOCAR holds a 35.3% stake.

The lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, while its record high was $149.66 per barrel in July 2008.

By Sabina Mammadli