Azeri Light oil price rises to $101.87 per barrel

The price of one barrel of Azerbaijan's Azeri Light crude oil increased by $3.29, or 3.33%, to $101.87 on the global market, Report informs, citing a source in the oil market.

The price of September futures for Brent crude stood at $96.57 per barrel following the latest trading session.

At Türkiye's Ceyhan port, the price of one barrel of Azeri Light crude on an FOB basis rose by $3.39, or 3.6%, to $98.25.

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

The lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, while its highest price of $149.66 per barrel was registered in July 2008.

Azeri Light crude is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) oilfields, in which the State Oil Company of Azerbaijan (SOCAR) holds a 31.65% stake.