Baku: The International Monetary Fund (IMF) has released its forecast for the price of Azerbaijan’s Azeri Light crude oil: APA-Economis reports. The IMF projects the average annual price of Azerbaijani oil to be $78.6 in 2025 and $73.5 in 2026.

According to Azeri-Press News Agency, the Fund expects Azeri Light to average $71.6 in 2027, $70.6 in 2028, $72 in 2029, and $73.4 in 2030. The IMF bases its forecasts on Brent crude prices from the World Economic Outlook (WEO), adding a premium of $2-3 to estimate Azeri Light levels. This suggests that Azerbaijan’s oil price will remain above $70 per barrel on average for the next seven years.

For reference, Azerbaijan’s 2025 state budget is based on an oil price of $70 per barrel, while the 2026 projection is $65.