Azerbaijani oil price exceeds $125

By Ulviya Poladova

Global oil markets have witnessed a significant increase in the price of Azerbaijani crude, AzerNEWS reports.

On April 9, the price of Azeri Light crude oil rose by $4.59, or 3.8%, to reach $125.03 per barrel.

The minimum price for Azeri Light crude was recorded on April 21, 2020, at just $15.81 per barrel. The all-time high for the commodity was set in July 2008, when it reached $149.66 per barrel.

It should be noted that the previous price of Azerbaijani oil was US$ 120.44.

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

Global oil benchmarks, Brent and West Texas Intermediate (WTI), experienced slight price increases on major exchanges.

The price of a barrel of Brent crude oil climbed by $0.89, settling at $96.81.

Simultaneously, on the New York Mercantile Exchange (NYMEX), light crude oil also saw an upward movement, with its price rising by $0.78 to reach $98.65 per barrel.