The price of Azerbaijan’s flagship Azeri Light crude remained above $82 per barrel on global markets, continuing to trade significantly higher than the level assumed in the country’s 2026 state budget.

The price of one barrel of Azeri Light edged down by just $0.01, or 0.01%, to $82.60, The Caspian Post reports via Report.

Meanwhile, the price of Azerbaijani crude shipped from the Turkish port of Ceyhan under FOB terms increased by $0.03, or 0.04%, reaching $80.38 per barrel.

The current market price remains well above the $65-per-barrel benchmark used in Azerbaijan’s state budget, providing continued support for government revenues and export earnings.

Azeri Light is produced under the agreement for the development of the Azeri-Chirag-Gunashli (ACG) oil fields, one of the largest energy projects in the Caspian region. The State Oil Company of the Azerbaijan Republic (SOCAR) holds a 31.65% stake in the contract.

The crude grade has experienced dramatic price swings over the years. Its lowest recorded price was $15.81 per barrel in April 2020 during the global oil market collapse, while its all-time high of $149.66 was reached in July 2008 amid a surge in global energy prices.