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Azerbaijani oil price down
- 20 May, 2026
- 09:10
The price of one barrel of Azerbaijan's Azeri Light crude oil on the world market decreased by $0.86 or 0.73%, amounting to $117.3, a source in the oil market told Report.
According to the auction results, the price of July futures for Brent crude oil amounted to $114.68.
The price of one barrel of Azerbaijan's Azeri Light crude oil on an FOB basis at Türkiye's Ceyhan port decreased by $0.81 or 0.7%, amounting to $114.9.
In Azerbaijan's state budget for this year, the average price of one barrel of oil has been calculated at $65.
It should be recalled that the lowest price of Azeri Light crude oil was recorded on April 21, 2020 ($15.81), and its maximum price was recorded in July 2008 ($149.66). In Azerbaijan, oil of this grade is produced under the contract for the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company of Azerbaijan (SOCAR) in the contract is 31.65%.
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