Baku:The price of Azerbaijani oil has reached new heights on the global market, surpassing $126 per barrel. This significant increase reflects a rise of $4.64, or 3.81%, bringing the current price of Azerbaijani Azeri Light crude oil to $126.59 per barrel. Previously, the trading price was $121.95.

According to Azeri-Press news agency, the recent surge in oil prices is noteworthy, especially when compared to the average price set in Azerbaijan's 2026 state budget, which is estimated at $65 per barrel. This contrast highlights the significant market dynamics affecting the oil industry.