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Azerbaijani oil price down
- 23 May, 2026
- 13:14
The price of one barrel of Azerbaijan's Azeri Light crude oil on the world market decreased by $4.09 or 3.58%, amounting to $110.05, a source in the oil market told Report.
According to the auction results, the price of July futures for Brent crude oil amounted to $107.23.
The price of one barrel of Azerbaijan's Azeri Light crude oil on an FOB basis at Türkiye's Ceyhan port decreased by $4.09 or 3.65%, amounting to $107.73.
In Azerbaijan's state budget for this year, the average price of one barrel of oil has been calculated at $65.
The lowest price of Azeri Light crude oil was recorded on April 21, 2020 ($15.81), and its maximum price was recorded in July 2008 ($149.66). In Azerbaijan, oil of this grade is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 31.65%.
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