Azeri Light oil rises to $73.31 per barrel

The price of Azerbaijan’s Azeri Light crude rose by $1.11, or 1.54%, to $73.31 per barrel on global markets.

April futures for Brent crude settled at $72.77 per barrel.

At the FOB price at Ceyhan port, Azeri Light increased by $1.12, or 1.61%, to $70.67 per barrel.

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

Azeri Light’s historic low was $15.81 on April 21, 2020, while its record high reached $149.66 in July 2008. The crude is produced from the Azeri-Chirag-Gunashli oil field complex, where SOCAR holds a 31.65% stake.