Azeri Light crude falls to $64.12 as global oil markets trend lower

The price of Azerbaijan’s flagship Azeri Light crude oil dropped to $64.12 per barrel on Monday, tracking a broader decline in global energy markets.

The decrease comes as international benchmark Brent crude slipped to the psychological $60 mark following escalating geopolitical tensions and military operations in South America.

The current price of Azeri Light has now fallen slightly below the $65.00 average price projected in Azerbaijan's 2026 state budget.

While Azeri Light continues to maintain a quality premium over Brent, analysts note that the recent volatility may impact the pace of foreign currency inflows to the State Oil Fund (SOFAZ) if the downward trend persists through the first quarter of the year.

N.Tebrizli