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Azeri Light crude rises to $115.93 per barrel
- 13 May, 2026
- 09:50
The price of Azerbaijan's Azeri Light crude oil increased by $5.45, or 4.93%, to $115.93 per barrel on the global market, a source in the oil market told Report.
Following the latest trading session, the price of July futures for Brent crude stood at $110.83 per barrel.
At Turkish Ceyhan port, the price of Azeri Light crude on an FOB basis climbed by $5.7, or 5.3%, to $113.3 per barrel.
Azerbaijan's 2026 state budget was based on an average oil price of $65 per barrel.
Azeri Light crude recorded its lowest price on April 21, 2020, at $15.81 per barrel, while its highest price was registered in July 2008 at $149.66 per barrel.
In Azerbaijan, Azeri Light is produced under the agreement for the development of the Azeri-Chirag-Gunashli (ACG) oilfields block. The State Oil Company of Azerbaijan (SOCAR) holds a 31.65% stake in the project.
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