Baku: Azerbaijani oil is trading at $99 as the price of Azerbaijan's Azeri Light (CIF) crude oil has decreased on world markets. The price of one barrel of Azerbaijani oil fell by $1.3, or 1.29%, to $99.48.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $100.78 per barrel. It is important to note that Azerbaijan's 2026 state budget was calculated based on an average price of $65 per barrel for Azeri Light crude oil.

The fluctuation in oil prices has significant implications for Azerbaijan's economy, which relies heavily on oil exports. The decrease in the price of Azeri Light crude oil reflects broader trends in the global oil market, which can be influenced by a variety of factors including supply and demand dynamics and geopolitical issues.