Azeri Light oil price rises 0.6% to $93.93 per barrel

The price of Azerbaijan’s Azeri Light crude rose by $0.56, or 0.6%, to $93.93 per barrel on the global market.

Trading data showed that September Brent futures stood at $89.19 per barrel, Caliber.Az reports, citing local media.

At Türkiye’s Ceyhan port, the FOB price of Azeri Light increased by $0.65, or 0.72%, reaching $90.95 per barrel.

Azerbaijan’s state budget for 2026 is based on an average oil price of $65 per barrel.

Azeri Light hit its lowest recorded price of $15.81 per barrel on April 21, 2020. Its highest price of $149.66 was recorded in July 2008.

Azerbaijan produces Azeri Light under the agreement for the development of the Azeri-Chirag-Gunashli (ACG) field block.

The State Oil Company of the Azerbaijan Republic (SOCAR) holds a 35.3% stake in the project.

By Bakhtiyar Abbasov