Azerbaijani oil prices average $85 in Q1 2026 outperforming budget forecasts

The average export price of Azerbaijan’s Azeri Light (CIF) crude oil per barrel in global markets for January–March 2026 has been announced

The average price of Azerbaijani oil during the first three months of this year amounted to $85.11. During the first quarter of 2026, the highest price reached $128.28, while the lowest stood at $64.12, News.Az reports, citing apa.

Recall that the average price of Azeri Light crude oil in Azerbaijan’s state budget for this year is set at $65 per barrel.

Of the projected state budget revenues for 2026 (38 billion 423 million manats), 16 billion 350 million manats are expected to be generated from the oil and gas sector. Of this amount, 12 billion 750 million manats, or 33.2%, will come from transfers from the State Oil Fund; 6 billion 850 million manats, or 17.8%, from revenues through the State Customs Committee; 1 billion 21 million manats, or 2.7%, from extra-budgetary revenues of budget organizations; and 981 million manats, or 2.6%, from other revenues.

News.Az 

By Leyla Şirinova