Azerbaijani oil drops by nearly 3%

Kanan Sadigov
Author

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $3.66 or 2.9% to $121.97 per barrel, Report informs.

Yesterday, the Brent crude price traded at $113.12 per barrel.

The average oil price in Azerbaijan's state budget for 2022 was set at $50 per barrel.

The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008.

Other News

Azerbaijan sees 5% surge in revenues from natural gas exports 21 January, 2026 / 10:58
Azerbaijan's crude oil exports dropped by almost 1% in 2025 21 January, 2026 / 10:41
Global oil prices fall 21 January, 2026 / 10:34
Azeri Light crude climbs on global markets 21 January, 2026 / 09:57
President Ilham Aliyev: In some three years plus, we have increased gas exports to Europe to 13 billion cubic meters 21 January, 2026 / 08:42
President: We invest in renewable energy because we want to make our country and our region more appropriate for living 21 January, 2026 / 08:39
President Ilham Aliyev: We have very legitimate hopes that we may enjoy second very important oil boom in Azerbaijan 21 January, 2026 / 08:35
Azerbaijani President: By 2032, we expect to have eight gigawatts of solar and wind energy 21 January, 2026 / 08:18
President Ilham Aliyev: Resources we had allowed us to increase our economic performance, improve living standards of people 21 January, 2026 / 08:13
SOCAR, ADNOC discuss full-field development of Absheron gas-condensate field 20 January, 2026 / 17:48
SOCAR and JBIC discuss clean energy initiatives 20 January, 2026 / 17:44
SOCAR, Planet Labs mull use of satellite data for environmental monitoring 20 January, 2026 / 17:29
SOCAR discusses accelerating energy transition with US company 20 January, 2026 / 17:20
Ambassador: Azerbaijan's humanitarian aid very important for Ukraine 20 January, 2026 / 16:36
SOCAR staff visits Alley of Martyrs 20 January, 2026 / 16:10
Azerbaijan sends another $1M worth of humanitarian aid to Ukraine 20 January, 2026 / 16:03
SOCAR, Eni mull potential projects for future cooperation 20 January, 2026 / 14:42
SOCAR Carbamide admitted as member of WEF's prestigious Global Lighthouse Network 20 January, 2026 / 13:06
Gas prices in Europe rise 0.5% 20 January, 2026 / 12:57
Azeri Light crude drops to $68.88 per barrel 20 January, 2026 / 09:54