Azerbaijan's Azeri Light crude averaged over $72/bbl in Jan–Sep, minister says

The average price of Azerbaijan's Azeri Light crude oil exceeded $72 per barrel in the first nine months of 2025, Finance Minister Sahil Babayev said during a meeting of the parliamentary committee on economic policy, industry and entrepreneurship, according to Report.

"According to consensus forecasts from 22 organizations, the average oil price for next year is expected at $65 per barrel. Currently, the consensus price for Brent is around $63, while Azeri Light trades about $3 higher. Over the first nine months, our oil sold above $72 per barrel. As of today, Brent remains in the $64–65 range," Babayev noted.

He added that oil prices have been volatile since the beginning of the year, with multiple fluctuations, but emphasized that Azerbaijan's economy faces no major risks given current global market conditions.

Azerbaijan's 2025 state budget is based on an oil price of $70 per barrel, with $65 per barrel projected for 2026. The average export price of Azeri Light crude in 2024 stood at around $84 per barrel.