Azeri Light crude oil price settles near $91 per barrel

The price of Azerbaijan’s flagship export crude, Azeri Light, tracked lower on global markets, slipping below the $92 per barrel threshold in step with wider consolidation across international energy benchmarks.

Data from commodity monitors and OilPriceAPI show Azeri Light on a CIF basis at Italy’s port of Augusta adjusting downward to trade between $91.17 and $91.22 per barrel. The benchmark North Sea Dated Brent crude similarly pulled back, settling around $85.74 per barrel.

Despite the recent price drop, physical realisations remain comfortably above Azerbaijan’s domestic fiscal requirement, with the 2026 state budget calculated on a conservative $65 per barrel baseline. Azeri Light crude is extracted under the Azeri-Chirag-Gunashli (ACG) field development agreement, in which the State Oil Company of Azerbaijan Republic (SOCAR) holds a 31.65% stake.

N.Tebrizli