Azeri Light oil rises nearly 2%

The price of Azerbaijan’s Azeri Light crude oil rose nearly 2% on global markets.

The price of Azeri Light crude delivered on a CIF basis to Italy’s Augusta port increased by 1.77%, or $1.37, to $78.74 per barrel, according to market data.

The price of Azeri Light shipped from Turkey’s Ceyhan port on an FOB basis also increased.

The rise comes amid higher global oil prices and continued volatility in energy markets. 

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

N.Tebrizli