Azeri Light crude rises above $92 per barrel

The price of Azerbaijan's flagship crude grade Azeri Light rose by $0.80, or 0.87%, to settle at $92.31 per barrel on global markets. Benchmark October Brent futures traded at $89.22 per barrel.

On a FOB basis at the Turkish port of Ceyhan, the price of Azeri Light increased by $0.89 (1.01%) to reach $89.00 per barrel.

Azerbaijan's 2026 state budget is calculated on a conservative oil price estimate of $65 per barrel. Azeri Light is produced under the development of the Azeri-Chirag-Gunashli (ACG) offshore block, where state oil firm SOCAR holds a 35.3% participating interest. The grade's all-time record low was registered on April 21, 2020 ($15.81), while its historic peak occurred in July 2008 ($149.66).

N.Tebrizli