Baku: The price of Azerbaijani oil has traded above $122 per barrel. The price of a barrel of Azerbaijani Azeri Light crude fell by $5.88, or 4.83%, to $122.15. Previously, Azerbaijani oil was traded at $128.03 per barrel.

According to Azeri-Press News Agency, Azerbaijan's 2026 state budget is based on an average oil price of $65 per barrel. This significant difference between the current trading price and the budgeted price highlights the fluctuations in the global oil market and its potential impact on Azerbaijan's economic planning.