Azeri Light extends losses

The price of Azerbaijan’s Azeri Light crude continued to decline on international markets.

According to market data, the price of Azeri Light fell by $3.95, or 4.36%, to $86.55 per barrel. At Turkey’s Ceyhan port, the FOB price for Azerbaijani crude dropped by $3.93 to $84.30 per barrel.

Brent crude futures for August settled at around $84.45 per barrel.

Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel, leaving current market prices well above budget assumptions.

Azeri Light is primarily produced from the Azeri-Chirag-Gunashli (ACG) fields, where SOCAR holds a 31.65% stake.

N.Tebrizli