Baku: The price of Azerbaijani oil of the Azeri Light (CIF) grade has decreased on global markets, now standing at $80.43 per barrel. This marks a reduction of $2.52, or 3.04%, from its previous price of $82.95 per barrel. According to Azeri-Press News Agency, this price shift is significant as Azerbaijan's 2026 state budget calculations were based on an average oil price of $65 per barrel for Azeri Light crude. This indicates that, despite the recent drop, the current market price remains above the long-term budgetary expectations.