Azerbaijani oil price rises by nearly $3

Agshin Rafigoglu
Author

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has increased by $2.86 or 2.41% to $121.43 per barrel, Report informs.

Yesterday, the Brent crude price traded at $117.55 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

European Commission clears acquisition of SOCAR Terminal by STEAS and TISS 06 February, 2026 / 19:30
BP contributes to promotion of two-century-old magnificent heritage of Mirza Gadim Iravani 06 February, 2026 / 16:45
Gas prices in Europe rise 1.9% 06 February, 2026 / 12:51
Azerbaijan summarizes year of implementing green energy space goal 06 February, 2026 / 12:33
Azeri Light crude drops to $69.77 per barrel 06 February, 2026 / 09:52
Fitch assesses SOCAR ratings alongside 10 of world's largest oil and gas companies 05 February, 2026 / 20:16
Azerbaijan, World Bank discuss gas supply reforms and tariffs 05 February, 2026 / 13:04
Rystad Energy: Geopolitics losing long-term influence on oil prices 05 February, 2026 / 11:10
SOCAR AQS participates in tenders in Iraq 05 February, 2026 / 11:05
SOCAR AQS to drill eight wells in Türkiye over two years 05 February, 2026 / 10:52
World oil prices fall over 2% 05 February, 2026 / 10:41
SOCAR Capital wins international award for green bond issuance 04 February, 2026 / 20:17
MPD technology planned for use at Azerbaijan's Gunashli field 04 February, 2026 / 17:07
SOCAR: Security measures at production facilities tightened amid adverse weather 04 February, 2026 / 11:53
BP talks about volume of investments in projects in Azerbaijan 04 February, 2026 / 11:05
SOCAR exploring alternative technologies to make mature fields more profitable 04 February, 2026 / 11:01
Gas reserves in European storage facilities fall below 40% 04 February, 2026 / 10:55
SOCAR switching to more cost-effective solutions as well production rates decline 04 February, 2026 / 10:44
SOCAR reveals drilling plans for 2026 04 February, 2026 / 10:15
Azeri Light crude rises to $69.8 per barrel 04 February, 2026 / 09:36