Oil Price Azeri Light | Secure

: As of May 3, 2026, Azeri Light was quoted at approximately $130.94 per barrel . However, the market saw a sharp correction shortly after, with prices dropping by over 8% to around $108.99 per barrel on a CIF (Cost, Insurance, and Freight) basis at Italy’s Augusta port.

: Because Azeri Light is primarily exported via the Baku-Tbilisi-Ceyhan (BTC) pipeline to the Mediterranean, it bypasses traditional Middle Eastern chokepoints, making it a highly attractive, secure alternative for European refiners during regional conflicts.

: The IMF estimates Azerbaijan's fiscal breakeven price —the price needed to balance the national budget—at $85.6 per barrel for 2026, which is currently well-covered by market rates. oil price azeri light

: Azerbaijan’s 2026 state budget is conservatively based on an average oil price of $65 per barrel . With actual market prices significantly exceeding this floor, the government is positioned for a substantial revenue windfall. Factors Influencing Azeri Light Prices

: It continues to trade roughly $2–$3 above Brent , which was hovering around $104.19 per barrel during the same period. : As of May 3, 2026, Azeri Light

: Oil production is projected to continue its gradual decline, with estimates for 2026 at 27.6 million tons , a 3.2% decrease from 2025 levels.

Azerbaijan's Azeri Light Crude Oil Nears $71 - Caspianpost.com : The IMF estimates Azerbaijan's fiscal breakeven price

Several geopolitical and economic drivers are currently shaping the price trajectory for Azeri Light: