Azerbaijani oil has become cheaper

A decline in the price of Azerbaijan's Azeri Light crude oil has been recorded on the global market. According to the latest data, the price per barrel dropped by 1.03 US dollars, or 0.94%, falling to the level of 108.16 US dollars.

According to BAKU.WS, based on trading results, May futures for Brent crude settled at 103.31 US dollars.

At the same time, the price of "Azeri Light" oil sold on FOB terms at the Turkish port of Ceyhan also declined. Here, the cost per barrel decreased by 1.01 US dollars, or 0.95%, amounting to 105.31 US dollars.

It should be noted that Azerbaijan's state budget for 2026 is based on an average oil price of 65 US dollars.

As a reminder, the historical minimum price of Azeri Light oil was recorded on April 21, 2020, at 15.81 US dollars per barrel, while the historical maximum occurred in July 2008 at 149.66 US dollars. This oil is extracted from the Azeri-Chirag-Gunashli block of fields, where SOCAR holds a 31.65% share.