Azerbaijan’s oil price surges as Azeri Light tops $107

The price of Azerbaijan’s Azeri Light crude has risen above $107 per barrel on the global market, reaching $107.31, according to the local news agency APA.

The price increased by $3.11, or 2.98%, from the previous trading price of $104.20 per barrel.

The latest price is substantially above the benchmark used in Azerbaijan’s 2026 state budget, which assumes an average oil price of $65 per barrel.

By Tamilla Hasanova