Azeri Light crude falls slightly to $69.77 per barrel

The price of Azerbaijan’s Azeri Light crude fell 0.03 USD, or 0.04%, to 69.77 USD per barrel on the global market.

April futures for Brent crude were priced at 69.7 USD per barrel. In Turkey’s Ceyhan port, Azeri Light on an FOB basis remained unchanged at 67.27 USD per barrel.

Azerbaijan’s 2026 state budget is based on an average oil price of 65 USD per barrel. Historically, Azeri Light reached a low of 15.81 USD per barrel on April 21, 2020, and a record high of 149.66 USD in July 2008.

The crude is produced under the Azeri-Chirag-Gunashli (ACG) contract, in which the State Oil Company of Azerbaijan (SOCAR) holds a 31.65% share.