Baku: The price of Azerbaijani Azeri Light crude oil has experienced a decline in global markets, APA-Economics reports. The cost per barrel of this crude oil has decreased by $4.82, translating to a 4.8% drop, bringing the current price to $95.27.

According to Azeri-Press News Agency, the previous valuation of Azerbaijani oil was $100.09 per barrel, indicating a significant decrease in its market value. It is important to note that Azerbaijan's 2026 state budget projections were calculated using an average oil price of $65 per barrel for Azeri Light crude oil.