Azerbaijani oil price rises to nearly $105 per barrel

The price of Azerbaijani crude oil on international markets has risen to $104.98 per barrel, up from the previous price of $101.96, according to the latest market data.

The increase represents a rise of $3.02 per barrel, or roughly 3%, from the previous trading level, Caliber.Az reports via local media.

The higher oil price comes as Azerbaijan continues to rely heavily on energy revenues, with crude exports remaining an important source of foreign-exchange earnings and state income.

Azerbaijan’s 2026 state budget was prepared on the assumption of an average oil price of $65 per barrel. At $104.98, the current market price is therefore nearly $40 above the budget benchmark.

By Sabina Mammadli