Azerbaijan's Oil Price Surges Past $122 Per Barrel

The global price of Azerbaijani oil has increased to over $122 per barrel. The Azeri Light crude oil, which is Azerbaijan's main export product, rose by $1.29 or 1.07% to reach a new high of $122.37 per barrel.

Azerbaijan's oil industry is a significant contributor to the country's economy, and any changes in global prices have a direct impact on its state budget. The 2026 state budget is based on an average oil price of $65 per barrel, which highlights the discrepancy between current market rates and government projections.