Azerbaijan’s flagship crude grade, Azeri Light, continues to trade close to the $80-per-barrel mark despite a slight decline in global oil markets.

The price of Azeri Light fell by $0.67, or 0.83%, to $79.76 per barrel on international markets, The Caspian Post reports via Report.

Meanwhile, the price of Azerbaijani crude shipped from the Turkish port of Ceyhan under FOB terms dropped by $0.78, or 1%, to $77.35 per barrel.

Despite the latest decline, oil prices remain well above the $65-per-barrel benchmark used in Azerbaijan’s 2026 state budget, providing additional support for government revenues.

For comparison, Azeri Light reached a historic low of just $15.81 per barrel on April 21, 2020, during the pandemic-driven collapse in global demand. Its all-time high was recorded in July 2008, when the benchmark surged to $149.66 per barrel.