Azerbaijani oil edges higher

The price of Azerbaijan’s Azeri Light crude oil posted a slight increase on global markets.

According to market data, the price of Azeri Light on a CIF basis at Italy’s Augusta port rose to $96.36 per barrel, up $1.09, or 1.14%, from the previous trading session. At Turkey’s Ceyhan terminal, the FOB price increased by $1.09, or 1.17%, to $94.04 per barrel. (trend.az⁠)

The price of Brent Dated crude from the North Sea also moved higher, rising by $1.05, or 1.12%, to $94.81 per barrel, while Russia’s Urals crude gained $1.03, or 1.52%, to $68.90 per barrel. (trend.az⁠)

Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel, leaving current market prices well above the benchmark used for fiscal planning. (trend.az⁠)

By N. Tebrizli