Azerbaijani oil price rises by more than $6

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Thursday, 4 June 2026

Thursday, 4 June 2026

The price of a barrel of Azerbaijani oil of the "Azeri Light" brand on the world market increased by 6.43 US dollars or 5.55% and amounted to 122.32 US dollars.

According to the results of the auctions, the price of June futures of "Brent" brand oil amounted to 122.94 US dollars.

The price of a barrel of Azerbaijani oil of the "Azeri Light" brand on the FOB basis in the Turkish port of Ceyhan increased by 6.33 US dollars or 5.62% and amounted to 119.02 US dollars.

The average price of a barrel of oil in this year's state budget of Azerbaijan is calculated at 65 US dollars.

It should be noted that the lowest price for Azeri Light oil was recorded on April 21, 2020 (15.81 USD), and the highest price was recorded in July 2008 (149.66 USD). Oil of this brand in Azerbaijan is produced within the framework of the contract for the development of the Azeri-Chirag-Gunashli (ACG) field block. The State Oil Company of Azerbaijan (SOCAR) has a 31.65% share in the contract.

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