The price of Azerbaijan’s Azeri Light crude increased by $3.11, or 2.98%, to $107.31 per barrel on the global market.
Brent crude futures for November delivery settled at $106.51 per barrel.
At Türkiye’s Ceyhan port, the price of Azeri Light crude on a Free on Board (FOB) basis rose by $3.18, or 3.15%, to $104.23 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
Azeri Light reached its lowest price of $15.81 per barrel on April 21, 2020, while its record high of $149.66 was recorded in July 2008.
Azeri Light is produced under the development agreement for the Azeri-Chirag-Gunashli (ACG) block, in which the State Oil Company of Azerbaijan (SOCAR) holds a 35.3% stake.
