Baku: The average export price of Azerbaijan's Azeri Light (CIF) crude oil per barrel in global markets for January-March 2026 has been announced, amounting to $85.11.

According to Azeri-Press News Agency, during the first quarter of 2026, the highest recorded price of Azeri Light crude reached $128.28, while the lowest was $64.12. These figures are significant when considering that the average price of Azeri Light crude oil in Azerbaijan's state budget for this year is set at $65 per barrel.

The state budget of Azerbaijan for 2026 anticipates revenues totaling 38 billion 423 million manats, with 16 billion 350 million manats expected to come from the oil and gas sector. Of this sector revenue, 12 billion 750 million manats, accounting for 33.2%, will be sourced from transfers from the State Oil Fund. Furthermore, 6 billion 850 million manats, or 17.8%, is expected from revenues through the State Customs Committee. An additional 1 billion 21 million manats, or 2.7%, is projected to come from extra-budgetary revenues of budget organizations, alongside 981 million manats, or 2.6%, from other revenue streams.