The price of Azerbaijan’s flagship Azeri Light crude oil has dropped on global markets but remains above the key $80-per-barrel mark.

The price of one barrel of Azeri Light decreased by $2.54, or 3.07%, to $80.06, The Caspian Post reports via Report.

Meanwhile, the price of Azerbaijani oil shipped from the Turkish port of Ceyhan under FOB terms fell by $2.50, or 3.11%, reaching $77.88 per barrel.

Despite the decline, current prices remain significantly higher than the $65-per-barrel benchmark used in Azerbaijan’s 2026 state budget calculations.

Azeri Light has experienced dramatic price swings over the years. Its lowest recorded price was just $15.81 per barrel on April 21, 2020, during the global oil market collapse, while its all-time high of $149.66 per barrel was reached in July 2008.