Azeri Light falls 4.6% to $122.15 per barrel

The price of Azerbaijan’s Azeri Light crude fell $5.88, or 4.59%, to $122.15 per barrel on the global market.

Brent crude futures for November stood at $126.46 per barrel at the close of trading.

The FOB price of Azeri Light at Turkey’s Ceyhan port fell $5.83, or 4.76%, to $116.62 per barrel.

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

Azeri Light hit its lowest price of $15.81 per barrel on April 21, 2020, and a record high of $149.66 in July 2008.

Azeri Light is produced from the Azeri-Chirag-Gunashli (ACG) oilfield complex, in which Azerbaijan’s state oil company SOCAR holds a 35.3% stake.

N. Tebrizli