Wedoany.com Report on Feb 3rd, the price of Azerbaijan's main export oil product, Azeri Light crude oil, has shown a significant increase recently at major export ports. Data shows that on January 28, the CIF (Cost, Insurance, and Freight) price of this oil product at the Port of Augusta in Italy reached $70.37 per barrel, an increase of $1.06 or 1.5% compared to the previous trading day. At the same time, the FOB (Free On Board) price at the Port of Ceyhan in Turkey also rose to $67.77 per barrel, up by $1.13 or 1.7%.

This price increase is consistent with the overall trend in the international crude oil market during the same period. As an important regional benchmark, the price of Urals crude oil rose to $39.10 per barrel, an increase of 3%; while the price of the international benchmark, North Sea Brent crude oil futures, also rose by 1.3% to $70.00 per barrel. As a key export variety from the Caspian region, the price fluctuations of Azeri crude oil not only reflect regional supply and demand dynamics but are also closely linked to the overall energy price environment in its main sales markets. It serves as one of the important indicators for observing the global oil market, particularly the Mediterranean and European markets.

It is noteworthy that Azerbaijan's 2026 state budget was formulated based on an average oil price of $65 per barrel. Therefore, if the price of Azeri Light crude oil, one of the country's main sources of revenue, remains consistently above the budgeted assumption level, it may have a positive impact on national fiscal revenue and related macroeconomic planning.