Azeri Light crude drops over 3% in global oil markets

Agshin Rafigoglu
Author

The price of one barrel of Azerbaijan's Azeri Light crude oil has dropped by $2.17, or 3.27%, settling at $64.11 on the global market, Report informs, citing sources familiar with oil market data.

Meanwhile, Brent crude's December futures closed at $62.58 per barrel following the latest trading session.

At Türkiye's Ceyhan port, the FOB price for Azeri Light also fell by $2.20, or 3.4%, to $62.44 per barrel.

Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.

Other News

SOCAR launches Operational Technology Academy 03 February, 2026 / 15:51
Azerbaijan's Astara modular power plant produces 5.2 billion kWh of electricity 03 February, 2026 / 13:56
Oil prices fall amid easing geopolitical risks 03 February, 2026 / 09:37
Azeri Light oil price drops nearly 5 percent on global markets 03 February, 2026 / 09:28
Hungary appeals to EU Court of Justice over ban on energy imports from Russia 02 February, 2026 / 20:02
SOCAR and Yokogawa Europe B.V. sign MoU 02 February, 2026 / 19:53
Oil prices fall 4% on signs of easing tensions between US, Iran 02 February, 2026 / 10:24
Kazakh Energy Ministry: Oil production restored at Tengiz field 31 January, 2026 / 14:24
Azerbaijani oil price in global market exceeds $73 31 January, 2026 / 10:53
Japan seeks to expand 'green' energy cooperation with Azerbaijan 30 January, 2026 / 20:49
Azerbaijan increases RON 95 gasoline imports by 1.7 times 30 January, 2026 / 15:14
SOCAR's Department earns nearly $374M from non-oil exports 30 January, 2026 / 13:34
SOCAR Polymer's export revenues surge by nearly 8% 30 January, 2026 / 13:08
WB to support project to reduce gas leaks in Azerbaijan 30 January, 2026 / 11:13
Azerbaijani oil price in global market nears $73 30 January, 2026 / 10:17
Energy ministers from Vertical Gas Corridor countries to meet in US next month 30 January, 2026 / 08:56
Last year Spain purchased over 80,000 tons of oil from Azerbaijan 29 January, 2026 / 15:39
Azerbaijan to complete Hydrogen Strategy Implementation Plan in 1H26 29 January, 2026 / 11:40
Azerbaijan, Syria mull energy co-op 29 January, 2026 / 11:18
Azerbaijani oil price in global market surpasses $70 29 January, 2026 / 10:01