Azerbaijan’s oil price falls below $65 a barrel

The price of Azerbaijan’s Azeri Light crude fell by $1.13, or 1.72%, to $64.6 per barrel on the global market on Thursday.

Market sources cited by Report said the decline came amid lower prices across the oil complex.

March futures for Brent crude settled at $61.89 per barrel, trading data showed.

At Turkey’s Ceyhan port, the FOB price of Azeri Light dropped by $1.19, or 1.86%, to $62.8 per barrel.

Azerbaijan’s 2026 state budget assumes an average oil price of $65 per barrel.

Azeri Light is produced under the Azeri–Chirag–Gunashli offshore project in the Caspian Sea, where SOCAR holds a 31.65% stake.