Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil declined on global markets, with a significant drop reported by APA-Economics. The price of one barrel of Azeri Light fell by $7.15, or 6.96%, to $95.58, down from $102.73 in the previous trading session.

According to Azeri-Press News Agency, this decline is notable against the backdrop of Azerbaijan's 2026 state budget, which is based on an average Azeri Light oil price of $65 per barrel. This sharp decrease in price could have implications for the country's economic planning and budget forecasts.