The price of Azerbaijan’s Azeri Light crude oil on the world market fell by $0.75, or 0.6%, to $124.01 per barrel.

The decline came as global oil prices also edged lower. December futures for Brent crude stood at $126.96 per barrel at the close of trading, according to Report.

Meanwhile, the price of Azeri Light crude sold from Ceyhan, Türkiye, on a FOB basis dropped by $2.59, or 2.2%, to $114.74 per barrel.

Despite the latest decline, Azeri Light remains well above the oil price benchmark used in Azerbaijan’s state budget.

The 2026 state budget of Azerbaijan is based on an oil price assumption of $65 per barrel.