Baku: The average price of Azerbaijani oil for the first 10 months of this year has been announced. During a session of the Milli Majlis, focused on the second reading of the draft law ‘On the State Budget of the Republic of Azerbaijan for 2026,’ Minister of Finance Sahil Babayev revealed that the average oil price over this period slightly exceeded $72 per barrel.

According to Azeri-Press News Agency, Minister Babayev highlighted that the oil price for the current year was initially set at $70 per barrel. The reported average indicates a favorable outcome for Azerbaijan’s oil industry, reflecting a higher-than-expected performance in global oil markets.