Light falls more than 3%

The price of Azerbaijan’s Azeri Light crude oil fell by more than 3% on global markets, dropping to $86.55 per barrel.

The price of a barrel of Azeri Light declined by $3.95, or 4.4%, from the previous session, after trading at $90.5 per barrel. 

The decline came amid lower global oil prices and easing concerns over potential supply disruptions in the Middle East.

Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.