Azeri Light oil price falls in global markets
Qabil Ashirov
Read moreThe price of Azerbaijan’s Azeri Light crude oil has declined in international markets, reflecting broader downward trends in global oil prices.
AzerNEWS reports that the price of Azeri Light delivered to Italy’s Augusta port on a CIF basis dropped by $3.87, or 4.5 percent, to $82.29 per barrel.
Meanwhile, the price of Azeri Light exported via Türkiye’s Ceyhan port on a FOB basis decreased by $4.58, or 5.5 percent, reaching $78.35 per barrel.
Other benchmark crude prices also recorded declines. The price of Urals crude oil fell by $3.77, or 7.4 percent, to $46.90 per barrel compared to the previous level.
Similarly, the price of Dated Brent crude, produced in the North Sea and widely used as a global benchmark, dropped by $3.71, or 4.4 percent, settling at $81.16 per barrel.
Despite the recent fluctuations in global oil markets, Azerbaijan’s 2026 state budget is based on a more conservative assumption, with the average oil price projected at $65 per barrel.
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